Portugal and US boost commercial cooperation

A trade agreement in areas such as software technology, energy efficient electrical generation, solar energy and tourism has been signed between the United States and Portugal.

The bi-lateral commercial agreement was signed on May 21 at the United States Embassy in Lisbon and involved the United States Trade Department and its Portuguese counterpart, the Portuguese Software Association (ASSOFT), COGEN Portugal (Associação Portuguesa para a Eficiência Energética e Promoção da Cogeração), the Portuguese Solar Energy Society (SPES), the Portuguese Travel and Tourism Agencies Association (APAVT) and Lisbon Commercial Association (ACL).

The trade agreements promoted by the US Embassy Trade Section aim to foster increased commercial relations between the United States and Portugal, whereby the two parties intend to work together on a number of projects and share information in these key areas.

US Ambassador Thomas Stephenson told the Algarve Resident: “The importance of these agreements should not be underestimated. Apart from symbolising straightforward cooperation and collaboration between our organisations, they also aim to increase commercial exchanges and investment between our two countries.”