Businesses seeking to establish a foothold in the European Union market have turned to Portugal as an ideal entry point.
“Portugal has one of the oldest treaties in the world with the U.K., dating back to the 1300s,” says Tomás Almeida, manager of institutional relations and corporate affairs for Schréder, a Belgian-based smart lighting producer. “When the U.K. left the European Union, Portugal was immediately the country attention turned to when it came to maintaining links with the Anglo-Saxon-speaking world.”
Schréder began investing in Portugal in 1956, and some 70 years later, the family-run operation continues to operate two factories employing 200 people in the Lisbon metropolitan area. Among several other factors, Almeida says the country’s infrastructure and well-developed ports and road system present a significant advantage for manufacturing plants that must often import parts and materials, and export product.