As Portugal takes Presidency of EU by July, the proposed free trade agreement between India and the EU will be boosted due to the strong ties with Portugal.
Portugal is country's main trading partner and provides access to a consolidated market of 500 million people in South America and Africa.
In 2005, trade between both the countries was merely US $290 million. According to Portuguese Ministry of Trade, India has huge potential market which is to be developed on a priority basis.
The Portuguese enterprises are also interested in setting up partnership with Indian entrepreneurs in future.
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