The Portugal-China Chamber of Commerce has urged the European Union to deepen its relationship with China, emphasizing the necessity for enhanced EU-China ties in the face of global trade uncertainties and shifting US tariff policies. Secretary General Bernardo Mendia articulated that China's consistency in policy and increasing openness provide a stabilizing factor for European businesses.

Mendia spoke exclusively with the Global Times, underscoring the importance of maintaining multilateralism during these volatile times, especially as the 25th China-EU Summit approaches. He highlighted that China's infrastructure, including nationwide pilot free trade zones and improved foreign investment laws, creates a predictable environment for European companies.

He argued that the prospect of more than one billion Chinese consumers represents a significant opportunity for high-quality EU products, including those from Portugal. This dynamic suggests potential growth in sectors such as manufacturing, research and development, and green technology.

The impact of US trade tariffs, notably a 30 percent levy on imports from the EU effective August 1, presents immediate challenges. Mendia expressed concerns over the rise of unilateral trade protectionism, warning that such measures could destabilize global supply chains and negatively affect consumers.

Mendia emphasized that adherence to rules-based multilateralism is both an ideal and an economic necessity. He urged the EU and China, as two major trading blocs, to work together in defending the World Trade Organization’s dispute-resolution mechanisms and in advancing green and digital trade initiatives.

He pointed out that while protectionism could lead to inflation and scarcity, collaboration is essential for building resilience in global markets. Furthermore, Mendia noted China's commitment to the EU-China Comprehensive Agreement on Investment as a foundational element for establishing fairer, greener trade practices.

Addressing the trade landscape between China and Portugal and the broader EU-China economic relations, Mendia remarked on the significant growth of bilateral trade. He characterized Portugal as a vital gateway for trade with China, especially in Lusophone markets, thanks to both its traditional exports and emerging sectors.

Mendia identified several promising areas for expansion, including green finance opportunities, particularly yuan-denominated 'panda bonds' for EU green projects, precision agriculture in agritech, and marine economy partnerships focused on renewable energy.

He also highlighted the potential for European enterprises to thrive in connection with China's dual priorities of sustainability and high-quality consumption, particularly within the health and wellness sectors, which cover organic food, nutraceuticals, and medical devices.

As the two sides prepare to celebrate the 50th anniversary of their diplomatic relations in 2025, Mendia noted that bilateral trade has surged over 300-fold, with trade between China and the EU reaching 2.82 trillion yuan ($389.66 billion) in the first half of this year, marking a notable year-on-year increase.

The EU has fortified its position as China's second-largest trading partner, accounting for 12.9 percent of China's total foreign trade. This impressive growth underscores the mutual benefits of a strong EU-China partnership in an increasingly complex global economic environment.