On March 17, the Institute of Political Studies at the Catholic University of Portugal (IEP Católica) hosted another edition of D-Labs | Creative Thinking Lab, this time under the theme "Economic Diplomacy in the Business World." Organized by Diaspora Prime Portugal, the event took the form of an open lecture, fostering dynamic engagement between the academic community, experts, and experienced entrepreneurs.

Open Lecture Brings Together Students, Entrepreneurs, and Academics at IEP Católica

The debate was moderated by Bernardo Ivo Cruz, professor and former Secretary of State for Internationalization, who opened the session by emphasizing the urgent need for Portugal to strengthen its internationalization strategies. He stressed that the country must generate wealth through exports and foreign investment, as its sustainability would be compromised without these factors.

Vítor Gabriel Oliveira, President of the Regional Council of Portuguese Communities in Europe, reinforced the role of diplomacy as a crucial tool in the internationalization process. According to him, diplomatic representations must facilitate this path for Portuguese companies.

Isabel Neves, entrepreneur, President of the Business Angels Club Lisbon, and President of the United Nations Association – UNA Portugal, highlighted the challenges of internationalization, stressing that startups and companies need to be prepared for this journey. She pointed out that without size and scale, companies will struggle to compete in international markets successfully. Neves also mentioned that Portugal lacks a strong and distinctive brand, unlike other countries such as Italy, known for "Design," and France, recognized for "Haute Couture" and "Luxury." She added that Portugal should not be satisfied with merely being a well-known destination for tourism and excellent gastronomy.

Vasco Ribeiro, university professor and author of publications on behavioral management and economic diplomacy, addressed the importance of understanding cultural differences in the internationalization of companies and businesses. He explained that knowing one’s counterparts well and respecting the particularities of each country are fundamental elements for success in international markets.

Stephenie Coker Rank, President of the Portugal Nigeria Business Trade Association, reflected on how Portuguese people perceive themselves. She noted that, unlike other nationalities, the Portuguese tend to undervalue themselves. She shared her passion for Portugal and reiterated that the country has numerous qualities and vast potential to explore.

Dr. M Haider Uzzaman, a Southeast Asian investor with businesses in Canada and President of the Business Summit, highlighted Portugal's unique advantage of having an oceanic border, a feature that few countries possess. He proposed that the creation of a national maritime company, along with the expansion and strengthening of the Portuguese airline TAP, could be major drivers of international influence and economic strength. He cited Emirates as an example of how Dubai opened air corridors to the world. Dr. Uzzaman also mentioned Portugal’s untapped potential in sectors such as agriculture and livestock, emphasizing that these assets should be better leveraged.

Linda Pereira, a renowned international speaker, stressed the importance of lobbying in the internationalization of Portuguese companies. She warned of the lack of mutual support among Portuguese entrepreneurs, particularly those operating abroad. She pointed out that the difficulty in working together as a collective, as seen in many other countries, is a cultural and structural issue that prevents many Portuguese SMEs from competing in large markets. Pereira advocated for companies to unite and adopt a more collaborative approach to access new markets.

Carlos Vinhas Pereira, President of the Franco-Portuguese Chamber of Commerce and Industry and President of RCCPM (Network of Portuguese Chambers of Commerce Worldwide), also attended the D-Labs event by Diaspora Prime Portugal. Traveling from Paris, where he resides, he shared his insights on the importance of international trade networks in supporting the internationalization of Portuguese companies.

The Closing Remarks: From Words to Action

The closing session of this open lecture, led by the Diaspora Prime Portugal leadership, emphasized the importance of fostering public discussions like this, which bridge the gap between the business sector and academia. The final note underscored the necessity of moving from words to action, advocating for a shift from the "Talk and Clap" model to the "Talk and Walk" approach.

A diverse audience, including members of the Diaspora Prime Portugal Advisory Council, students, consultants, associations, and entrepreneurs from various sectors, enriched the final discussion. The event highlighted the importance of preparing university graduates and Portuguese companies for internationalization and reinforcing economic diplomacy as a strategic tool for the country’s sustainable growth.