The recent Memorandum of Understanding between Banco Portuguese de Fomento and the Consejo Federal de Inversiones of Argentina is exactly that. More than an institutional agreement, it is the confirmation of a trend that I have been following and defending for some time: the strengthening of the connection between Portugal, Europe and the Mercosur economic area.

For years, there has been a lot of talk about the potential of this relationship. On the European side, because of the need to diversify markets, supply chains and investment. On the Latin American side, because of the search for stability, access to capital and connection to more mature markets. What was missing was execution. And that is precisely what is now beginning to emerge.

This agreement is particularly relevant because it is not just another protocol. It is the first Memorandum of Understanding that IFC signs with a European institution, which places Portugal in a privileged position of entry into a market with enormous potential. At a time when Argentina is going through a process of greater economic openness, in line with the dynamics of the agreement between the European Union and Mercosur, this connection gains even more significance.

In practice, we are talking about a new channel of investment, financing and business cooperation. A channel that can facilitate the internationalisation of Portuguese companies, support small and medium-sized companies and create concrete opportunities in strategic sectors. And more importantly, a channel that positions Portugal as a natural bridge between two economic blocs that for too long have been further apart than they should be.

But there is something here that I consider essential to underline. This does not happen by chance. It is the result of a positioning that Portugal has been building over the years. An open country, with the capacity to adapt, with a historical and cultural connection to various markets and, increasingly, with institutional and financial credibility to be a relevant partner in this type of relationship.

At the same time, this agreement confirms something that is already felt on the ground: there is a growing interest from Latin America in strengthening links with Europe through more agile and efficient platforms. And Portugal, due to its size, flexibility and location, can play a much more relevant role here than the one that is often recognised internally.

Of course, this is only the first step. The true impact will depend on the ability to transform intentions into projects, partnerships into investment and opportunities into concrete results. But the signal is clear.

We are witnessing a change that reinforces what I have been advocating for some time: Portugal can, and should, assume itself as a strategic platform between continents, between economies and between different stages of development, and if this path continues and as everything indicates, the agreement with Argentina will be only the first of many, not as an exception, but as a trend.