I would like to begin by thanking you, Vice-Chancellor, for your kind words of welcome. I was delighted to accept your kind invitation to close the session that today has gathered together Norwegian and Portuguese businessmen at the same table, under the auspices of this prestigious university.

With my presence here I wish to underline the importance I attach to deepening business relations between Norway and Portugal. Promoting Luso-Norwegian economic relations, in fact, is one of the main purposes of this visit to Norway. That is why I have brought with me the Minister of Foreign Affairs, the Minister of Economy, members of ICEP, the Portuguese body charged with promoting investments, trade and tourism in Portugal, and a vast business delegation, including representatives from banking, shipbuilding, moulds and other areas of advanced technology, some of which are already present in this country as direct investors or partners in Norwegian firms.

Nowadays, economic relations are the great driving force behind the development of co-operation between countries. In this field, businessmen have an irreplaceable role and therefore I hope that this seminar has contributed to identify new business, co-operation or investment opportunities which will in turn help consolidate an increasingly integrated European economic area.

Moreover I also wish to underline the absolutely vital role held by teaching and research centres in building the economy and the knowledge society. It is essential to articulate the scientific, technological, entrepreneurial and financial systems, strengthening the relationship between the production of knowledge and the economic, social and cultural fabric.

It is clear today that scientific, technological and organisational innovation, which in turn influences the quality of investment, is an essential part of economic growth. This is in fact a subject that is very dear to me and which I have chosen as one of my main areas of intervention. Portuguese businessmen are well aware of it, particularly as some of them here today have followed my initiatives in this field.

Nowadays, a competitive economy is not based on low salaries, but rather on modern, innovative and technologically advanced productive systems, capable of supplying quality goods and services with high value on the international markets. I believe it is no exaggeration to say that in the information and knowledge society of today, innovation is the most important factor of competitiveness.

Productivity itself also depends on innovation in a broad sense, namely as regards organisation of the work, the differentiation and quality of the products and the marketing strategy.

I know that this university sets a good example in articulating the scientific, technological and entrepreneurial systems and that it has developed a very active and dynamic role as a pole of innovation, with a clear impact on the development of this region, contributing to strengthening the country’s social and economic cohesion. The sophisticated maritime navigation simulator that I have just visited is the very epitome of this, and clearly illustrates the relation between the production of know-how, knowledge and economic life.

My friends,

Although far apart, Norway and Portugal have much in common and converging interests and complementarities to be developed. Both belong to the same economic area and participate in the same globalisation movement. The basis of competition between companies has widened and markets have unified.

Given the ever-increasing competitive pressure, which affects almost all markets of goods and services, it is vital to develop an entrepreneurial culture of international co-operation, create agile business networks, promote the movement of information and knowledge, accelerate and diversify the interconnections between national and international areas.

Norway is a competitive economy, it has a modern, innovative and technologically advanced productive system able to produce quality goods and services for the international markets. In the wake of the Lisbon Strategy, Portugal is set on modernising its economy. This involves heavy investment in capital and technology, qualifying human resources, strengthening the articulation between companies and the scientific and technological system, both on the national and on the international levels. We already have many companies with skills in new areas, with experience in state-of-the-art sectors and a strong component of scientific, technological and organisational innovation.