It was the launch of Portugal Premium Experience, an initiative of the Portuguese Business Association (AEP) within the framework of the Next Challenge Asia project, whose objective is to support the internationalization of Portuguese micro, small and medium-sized companies by showing the potential of their products and promoting them in agri-food, home, infrastructures (water and energy) and construction materials. It took place on October 25 and 26, in Vila Nova de Famalicão, and made known the work, products and quality of our SMEs to no less than 30 potential partners in the Japanese, South Korean and Chinese markets in search of synergies with Portugal.

A very close contact

Talks, industry workshops, business showcases and visits to companies were some of the actions included in the initiative. There was opportunity for networking and product showcase.

The inauguration took place at the Casa das Artes, in Famalicão and, in his speech, the AEP administrator, Paulo Vaz, highlighted “the importance of the Portugal brand in supporting SMEs when they are going to start an internationalization process” . Subsequently, the 30 Asian businessmen present participated in the sectorial workshops, whose topics were The Potential of the Portuguese Agri-food Sector and The Potential of the Portuguese Home, Construction Materials and Infrastructure (Water and Energy) Sectors. On the same day, a sample of Portuguese products was held and, finally, the delegation of businessmen attended the conference promoted by the Municipality of Famalicão with the theme From Madein to Createdin – Added Value and Sustainability.

The next day, in groups organized by strategic interests, the 30 or so businessmen from Japan, South Korea and China visited some of the local SMEs.

But all this is only the beginning. By mid-2023, the project plans to carry out three more actions in the markets of Japan, South Korea and China, creating opportunities for Portuguese SMEs to operate in a greater number of business markets.

“Market diversification is essential to increase the competitiveness of our companies, especially at such a sensitive time for the world economy. This project is an excellent gateway to a huge market, which has its peculiarities and which deserves greater attention from us in advising and monitoring businessmen”, explains Luís Miguel Ribeiro, president of AEP.

Studies and digital tools

Co-funded by Compete 2020, Portugal 2020 and the European Union through ERDF, Next Challenge Asia has been producing important studies and digital tools to support companies.

Three Market Studies have already been launched —one for each sector, linking Construction Materials and Infrastructures— that give an image of the international context and the value chain of the sectors, as well as a strategic analysis of each of the markets according to the sector to which they refer and an analysis of the competition identifying the main players, as well as a definition of modes of entry and strategic options to be taken in the process of exporting to those markets. The Study is freely accessible and can be downloaded at aepnextchallengeasia.com/estudos-de-mercado/

To facilitate access and knowledge of the project’s target markets and support the internationalization process in a transversal manner, digital tools were also produced. These allow access to information of interest on each of the markets [Business Intelligence] and the self-diagnosis of the degree of maturity of the companies to start an internationalization process for these specific markets [Business Knowledge] and provide step-by-step steps for a successful internationalization strategy (see box).

get ready for asia

AEP is committed to promoting knowledge, training SMEs and communication with the markets of Japan, South Korea and China. Through Next Challenge Asia, it will carry out three more actions in the first half of 2023, one in each target market. Follow all this project at aepnextchallengeasia.com

Business Intelligence: knowing the target markets

This tool allows characterizing the three markets, comparing and identifying the opportunities and key characteristics of each one, in order to help in decision making.

Business insight: diagnosing readiness level

Based on a survey of six essential topics (knowledge, human capital, relational capital, financial capacity, reputation and international vision), this tool allows the company to diagnose its level of preparation regarding critical success factors, to start the process of internationalization in target Asian markets.

Business Strategy: Outlining a Strategic Plan

Created so that the entrepreneur can draw up an individual strategic plan to approach the markets. This plan is carried out through a questionnaire that assesses essential aspects of the company’s internal and external environment and the establishment of short and medium-term objectives. This will result in a strategy to define market segments, positioning and marketing-mix.

To use the tools for free, go to digital-tools.aepnextchallengeasia.com