The agreement was signed by Portugal Telecom’s CEO, Miguel Horta e Costa and by the Chairman of ZTE Corporation, Hou Weigui. In representation of the companies, the Chairman of PT Inovaçao, Paulo Nordeste and the Director of the Technological Centre of ZTE Corporation also subscribed. The agreement establishes a group of principals which are orientated towards the realization of partnerships between the two companies as joint candidates for submissions for the supplying of telecommunication equipment and solutions in China.
According to Miguel Horta e Costa, “China is a market which we have been observing with much interest and in which we have been present for a few years. I am personally engaged in reinforcing Portugal Telecom’s ties with this market”. We recall that, together with PT Inovação, ZTE is already a technological supplier in the telecommunications operator in Timor Lorosae.
For Portugal Telecom, this agreement will allow for the export of technology developed by the Portuguese company through PT Inovação which has its Head Office in Aveiro, to a market of 1,3 billion consumers. For ZTE, this agreement is seen as a way to enter into markets in which PT is already present, especially the Palop (Portuguese speaking countries), as well as the accumulated experience that the Portuguese company has in a European context mainly through international R&D projects in which the Portuguese Group, through PT Inovação, is involved.
ZTE Corporation (www.zte.com.cn) is one of the largest telecommunications companies in the Republic of China. The company develops and produces telecommunications equipments for both fixed and mobile networks, and is also listed on the Shenzhen Stock Market since 1997.
Hou Weigui, Chairman of ZTE Corporation said that “Seeing as it is the largest telecommunications producer in China which is listed on the Stock Market, we are very proud to be an important partner of the Portugal Telecom Group.
The PT representatives went to China during the visit of the President of the Republic, Jorge Sampaio. The objective of the trip was mainly to consolidate the good political relations and to develop the initial bilateral economical cooperation. Jorge Sampaio travelled with more than one hundred businessmen, the largest mission of this type which as organised during his last two mandates. The Minister of Economy, Álvaro Barreto and the Minsiter for Foreign Affairs António Monteiro , representatives of the main political parties and some journalists accompanied Jorge Sampaio on this trip.