UK unlocks $8.6bn in trade and investment deals with Saudi Arabia during Reeves visit
The British government announced on Wednesday that it had struck a series of trade and investment agreements worth $8.6 billion with Saudi Arabia, mar...
EU Council President Antonio Costa celebrated the 40th anniversary of Portugal's EU accession, hailing it as the catalyst for the nation's most significant period of social and economic development and a testament to European solidarity.
The 40th anniversary of Portugal's accession to the European Union marks a pivotal moment in the nation's history, ushering in an unprecedented era of progress, EU Council President Antonio Costa stated on Thursday.
“This is a huge success for Portugal, the fruit of Portuguese efforts. But it is also thanks to Europe’s solidarity as part of a project of shared prosperity,” Costa said at a ceremony in the capital.
He emphasised that joining the bloc was the final step in Portugal's journey to democracy that began with the 1974 Carnation Revolution. "The signing of the accession treaty not only concluded Portugal’s democratic transition, but also ushered in the era of the greatest social and economic development in Portugal’s history," Costa declared. He highlighted that the accession fulfilled the "three Ds" of the revolution: Democracy, decolonisation, and Development.
Since joining the EU in 1985, Portugal has undergone a remarkable transformation. Costa detailed the profound economic impact, noting, “The Portuguese economy has grown 143% due to its internal market opening up to Europe. There has been an eightfold increase in the average wage, and GDP per capita has risen elevenfold.”
The social progress has been equally striking. “Once a country in which an 18% illiteracy rate hindered development, today Portugal is a country where the 43% of young people with higher education offer the country enormous potential for future development,” Costa said. This profound change, he argued, is why "the Portuguese, out of all Europeans, nowadays trust the European Union the most."
Costa also reflected on the broader significance of the 1980s enlargement for the continent. “For the first time, Europe was not defined as a customs union, a common market, but as a political entity, as a union of democracies," he said. He praised Portugal's consistent role as an "active, loyal and constructive partner" within the EU.
The Council president stressed the strategic success of EU enlargement, which has grown from 10 members in 1985 to 27 today. "Enlargement has turned out to be the greatest geostrategic investment for peace and prosperity," he affirmed.
In his closing remarks, Costa echoed the words of the late Portuguese President Mario Soares from the 1985 treaty signing: “A day of good omen for the future of Europe. May that future be one of solidarity and unity, may it promote progress and social justice and may it provide an element of peace and stability in today’s troubled world.”
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