Portugal Telecom and China’s ZTE signed a technical and scientific cooperation agreement that brings the two companies closer together in the areas of research and development of new products and services, and also foresees joint efforts to «expand the activities of both in several markets», explains one communicated.
The agreement establishes a set of guiding principles that open the door to partnerships between the two entities in participating in tenders for the supply of equipment and solutions in telecommunications in China, or in other strategic markets for the two companies.
For PT, the agreement can guarantee new contracts for the supply of products and services developed within PT Inovação, especially in the Asia area, where ZTE has a higher position.
In turn, the Chinese company benefits from PT’s presence in the PALOPs. It should be noted that PT Inovação and ZTE already work together in markets such as Timor or Brazil, where they provide the technological platform to support the telecommunications network.
This agreement could be a key move towards PT’s intentions to reinforce investments in the Asian zone, an intention that Miguel Horta e Costa has been referring to and that he accomplished during the official visit of the President of the Republic to China that he accompanies, together with a delegation of businessmen .
Miguel Horta e Costa admits that PT is interested and has conditions to increase participation in that area of the globe and sees the current agreement as another step in preparing the Portuguese group for the opening of the Chinese market to foreign investment in late 2006.
At that time, PT intends to reinforce its stake in that country, using Macau as a gateway, where it holds stakes in the operator CTM (28 percent) or on cable television (which controls 80 percent), the official explained in statements cited. by Lusa. According to the same statements, the CEO recommends that PT’s presence in China will always be niche.
ZTE is one of the most important telecommunications companies in China that develops and manufactures equipment for fixed and mobile networks.
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