While Brazil remains an essential partner, there is untapped potential in forging stronger business ties with other South American nations, including Argentina, Paraguay, Uruguay, and the broader Central American region. Events like the recent Portugal-Argentina Business Meeting, held in Lisbon, highlight the importance of expanding trade and investment opportunities beyond traditional partnerships. By enhancing economic collaboration with South America, Portugal can diversify its international business relationships and play a crucial role in bridging European and Latin American markets.

The Portugal-Argentina Business Meeting served as an important platform to explore mutual benefits in sectors such as software, technology, healthcare, industry, and financial services. These areas of collaboration demonstrate how both regions can leverage their respective strengths to drive innovation and economic growth. Portugal’s digital economy and advanced technological ecosystem present a prime opportunity for South American companies seeking expansion into the European market. Similarly, South American nations offer Portugal access to emerging markets with increasing demand for technology-driven solutions and investments in infrastructure.

One of Portugal’s strongest advantages in fostering closer ties with South America is its strategic position within the European Union. As a gateway to the EU, Portugal provides an entry point for Latin American businesses looking to expand their operations into Europe. The country’s business-friendly environment, competitive corporate tax rates, and highly skilled workforce make it an attractive destination for international investment. Additionally, Portugal’s linguistic and cultural connections with Latin America, particularly with Brazil, offer a foundation for strengthening relationships with Spanish-speaking nations in the region.

South America’s economic growth presents an opportunity for Portugal to diversify its trade partnerships and reduce reliance on traditional European markets. Countries like Paraguay and Uruguay have been experiencing steady economic development, offering potential for increased bilateral trade and investment. Portugal can benefit from South America's agricultural exports, manufacturing industries, and growing demand for digital transformation. In return, Portugal’s expertise in renewable energy, financial technology, and smart infrastructure can contribute to sustainable development in these nations.

To capitalize on these opportunities, Portugal should organize more business summits and trade missions similar to the Portugal-Argentina Business Meeting. Strengthening diplomatic and economic cooperation through agreements like the Memorandum of Understanding signed between Portugal and Argentina will facilitate long-term partnerships. Encouraging Portuguese startups and enterprises to explore South American markets, while simultaneously attracting Latin American investors to Portugal, will create a mutually beneficial economic relationship.

As global economic dynamics shift, Portugal has a unique chance to position itself as a key facilitator of trade and investment between Europe and South America. By expanding its focus beyond Brazil and fostering collaboration with emerging economies in the region, Portugal can strengthen its global economic footprint and create new opportunities for businesses on both sides of the Atlantic.

Author

Paulo Lopes is a multi-talent Portuguese citizen who made his Master of Economics in Switzerland and studied law at Lusófona in Lisbon - CEO of Casaiberia in Lisbon and Algarve.

Paulo Lopes