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Business Profile
Economy: Portugal was traditionally an agrarian economy but since joining the EU in 1986, the industrial and, especially, the service sectors of the economy have grown considerably by comparison. Agriculture now employs 13 per cent of the workforce and contributes just three per cent of GDP, producing wheat, maize, tomatoes, potatoes and grapes. Production has undergone a relative decline so that Portugal now imports a sizeable proportion of its foodstuffs after having long been self-sufficient. The manufacturing sector is dominated by the textile and footwear industries and automobiles, which now account for 15 per cent of total exports. Other significant products are paper, cork and other wood products, electrical appliances, chemicals and ceramics. Both foreign and internal investment have been high and the country’s infrastructure has been extensively modernised. Many former state-owned industries have been sold off under a privatisation programme which began in 1989. Some problems remain, notably the disparity between the relatively prosperous north and the poorer south, but Portugal’s overall macro-economic performance was sufficient to guarantee the country’s entry into the European Monetary Union (EMU) in 1999. During the last five years, unemployment has hovered around five per cent while inflation has not risen above four per cent. In the last two years, however, GDP growth has slowed to just one percent which has begun to cause serious problems for the government. Chief among these is a large budget deficit – a quantity which is strictly limited under the terms of euro-zone membership – which is forcing the government into sharp and unpopular spending cuts to breach the gap.
Although Britain has historically been Portugal’s main trading partner, the growth of Anglo-Portuguese trade has failed to keep pace with that of Portugal’s other trading partners, particularly Germany, France, Spain and Italy.
Business: Business people are expected to dress smartly and formal attire is expected in some dining rooms and for important social functions. English is widely spoken in business circles, although when visiting a small family business it is best to check in advance. Visiting cards are generally only exchanged by more senior members of a company. July and August are best avoided. Office hours: Mon-Fri 0900-1300 and 1500-1900.
Commercial Information: The following organisations can offer advice: Associação Comercial de Lisboa, Câmara de Comércio e Indústria Portuguesa, Rua das Portas de Santo Antão 89, 1150-226 Lisbon (tel: 2132 24050; fax: 2132 24051; e-mail: geral@port-chmabers.com; website: www.port-chambers.com); or Confederação do Comércio e Serviços de Portugal (CCP), Avenida Dom Vasco de Gama 29, 1049-032 Lisbon (tel: 2130 31380; fax: 2130 31400-1; e-mail: ccp@ccp.pt; website: www.ccp.pt).
Conferences/Conventions: Lisbon is the main centre for conventions, with venues that can seat up to 1500 people. The Lisbon Convention Centre was founded in 1987, and a major Congress centre, fully integrated with the facilities offered by the Lisbon International Fair, opened in 1989. The fair is a department of the Portuguese Industrial Association, which promotes trade fairs, exhibitions and meetings.
After the EXPO ’98 in Lisbon, the North International Area became the new Lisbon Exhibition Centre, with an area of 80,000 sq m (743,200 sq ft), also run by the Portuguese Industrial Association. The Lisbon International Fair will now be the major congress centre in Lisbon, with a capacity for events of up to 3000 delegates. The Lisbon Convention Bureau is a non-profit-making association of companies providing support services to conference organisers. Its services directory includes details of the Congress Centre and hotels with conference facilities. For information, contact the Lisbon Convention Bureau, Rua do Arsenal 15, 1100-038 Lisbon (tel: 2103 12700; fax: 2103 12899). Lisbon opened the Belem Cultural Centre in 1992 to coincide with Portugal’s EU Presidency; it features high-quality technical equipment and facilities for meetings of up to 1400 delegates. For further information, contact the Belem Cultural Centre, Praça do Império, 1400 Lisbon (tel: 2136 12400; fax: 2136 12500; e-mail: ccb@ccb.pt; website: www.ccb.pt). Additionally, the former site of the EXPO ’98 ‘Utopia Pavillion’ has been converted into the multi-purpose Atlantic Pavillion, which can accommodate up to 16,500 seated spectators.
The city of Oporto also has two major international exhibition and congress centres. The Oporto International Exhibition Centre (Exponor) has a total area of 29,500 sq m (274,000 sq ft) with a congress centre that has a capacity for 1000 delegates; the International Congress and Exhibition Centre (Europarque) has a large and flexible exhibition hall that can host receptions for up to 12,000 delegates on a floor space of 7200 sq m (66,890 sq ft). For further information, contact the Porto Convention Bureau, Av Inferior a Ponte D. Luis 1, 53, 1 4050 Porto (tel: 2233 26751; fax: 2233 26752; e-mail: portconv@mail.telepac.pt; website: www.porto-convention-bureau.pt).
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