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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Singapore Asia Pacific World China's Hu calls for Portuguese cooperation on reform agenda AFP - Sunday, November 7 Send IM Story Print China's Hu calls for Portuguese cooperation on reform agenda Slideshow: Full Photo Coverage: Business & Economy LISBON (AFP) - – China wants to strengthen cooperation with Portugal on international issues such as reform of the United Nations, President Hu Jintao said Saturday. "Thus we will be able to consolidate our consultations on global themes and common international interest, such as the resumption of world economic growth, the reform of the United Nations and climate change," Hu added. The Chinese leader was speaking at a joint press conference with Portugal's President Anibal Cavaco Silva, on the first day of a two-day visit to this economically fragile country. Cavaco Silva said that the election of Portugal to the one of the non-permanent seats on the Security Council opened "new possibilities of deepened dialogue between the two countries." Hu arrived here Saturday with his wife Liu Yonqing, members of the Chinese government and around 50 business leaders in a visit that Portugal hopes will bring it trade deals and help alleviate market pressure on its debt. He flew in direct from a state visit to France, where Chinese officials had signed more than 20 billion dollars in contracts with French firms. Hu's first visit to Portugal started with laying flowers at the tomb of the 16th century poet Luis de Camoes, whose epic poem "Lusiades" was partly composed in Macau, now Chinese but then a Portuguese colony. Outside the Gothic Jeronimos monastery in the Lisbon suburb of Belem a thousand people waved red balloons and Chinese and Portuguese flags to welcome Hu. A couple of hundred metres away, out of the view of the Chinese president, a demonstration organised by Amnesty International gathered around 20 people, according to local media. Hu the went on to the nearby presidential palace for a formal welcome from Cavaco Silva. Hu is to meet Prime Minister Jose Socrates on Sunday, after which various accords and contracts will be signed, including an economic cooperation accord. The contracts are expected to include deals in telecommunications and renewable energies in particular, as well as banking. Analysts also expect Beijing to announce, as it did last month for Greece, its willingness to buy up Portuguese debt, which has been buffeted on the bond markets. Despite the parliament approving swingeing budget cuts of five billion euros (seven billion dollars) last week, the yield -- the rate of return for investors -- on the benchmark Portuguese 10-year bonds jumped to a record 6.439 percent on Thursday. The government's austerity programme also brought tens of thousands of government workers on to the streets of Lisbon Saturday, angered that they face wage cuts of up to 10 percent. A general strike is planned for November 24. In the run-up to Hu's visit the two sides showered each other with compliments, with the Chinese president hailing their long friendship and fruitful relations in an interview with Portugal's Lusa news agency. Cavaco Silva for his part told China's Xinhua agency that Portugal was "an ideal economic partner" for China as an European Union member and a eurozone founder with an open, modern and stable economy. The head of Portugal's foreign trade agency, Basilio Horta, meanwhile told China Radio International that Beijing could benefit from a gateway to Europe and to other Portuguese-speaking countries. China has already developed ties over the years with such countries, notably Brazil and Angola, its leading source of oil. The volume of trade with all lusophone countries has boomed according to China, exceeding 58.5 billion dollars between January and August this year, though its exchanges with Portugal itself are still very low. Portugal ranks 77th on the list of China's suppliers, with goods worth 222 million euros (310 million dollars) exported last year, and 65th on the list of customers, with imports worth 1.1 billion euros. Originally planned for July 2009, the 10th anniversary of Macau's handover to China, the Chinese president's trip to Portugal was put off due to ethnic unrest in the Xinjiang region. Since then a number of senior Portuguese officials have visited China and Socrates will take part in an economic forum in Macau on November 14-15 at which he will meet his Chinese counterpart Wen Jiabao. 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