This "is an important announcement," said Germany's Ambassador to Portugal, Martin Ney, at the ceremony taking place at the Ministry of the Economy in Lisbon.

"It is a great opportunity" for Portugal, the German diplomat added.

Pedro Siza Vieira, Minister for Economic Affairs, described it as "good news for Portugal and for Portuguese industry”.

The world's leading fair for industrial technology is being held in the port city of Hanover, Germany, from 25 to 29 April 2022.