Portuguese PM lays emphasis on renewed cooperation with India

Asserting that his visit to India is aimed at renewing old ties, Portuguese Prime Minister Antonio Costa on Sunday said the Indian community is well integrated in Portugal and its contribution to his country's society is highly valued.

Speaking on the occasion of 14th Pravasi Bharatiya Divas here, Costa said, "With this visit I want to enhance and extend the ties to strategic partnership with ambitious targets in the new areas of cooperation."

Reflecting on the strategic position of Portugal, the visiting Prime Minister said, "Portugal tries to offer an attractive location. Portugal has a strategically position to access worldwide markets. It is the nearest European country to the United States and Canada. Ours is a country in the same time zone as the UK and Ireland and we have high connectivity both trough Africa and America."

He added that Portugal can play an important role in the flow of goods to African, European and American markets.

"Portugal also has a strong, flexible, committed and pro active workforce with a high-level of education in business oriented areas. It has high quality universities and research institutions. Portugal also has a special regime for Non-Habitual Residents with a flat rate of income tax for qualified expatriates for 10 years," the Prime Minister added.

He said that that to attract Foreign Direct Investments, the country is presenting investment opportunities to foreign investors by improving the operating framework of the resident permit program for investment activities in Portugal that has attracted many investors in the last few years.

He thanked his Indian counterpart Narendra Modi for paying homage to former Portuguese president and prime minister Mario Soares, who died yesterday.