On June 27, 2003, Portuguese Prime Minister Jose Manuel Durao Barroso met with Foreign Minister Li Zhaoxing in Lisbon.　

Borroso congratulated Li on the important progress the Chinese government and people had made in the battle against the Severe Acute Respiratory Syndrome (SARS), as well as the great achievements in the economic construction. Barroso said that Portugal and China were friendly countries and Portugal took China as a true friend. Noting that Portugal and China had extensive common interests, he said that Portugal would continue its efforts to promote bilateral relations as well as the European Union's cooperation with China. He reiterated that his government would stick to its One China policy.

Li said that the two countries enjoyed good relations. He thanked Portugal for its One China policy over the years and its understanding and support on such questions ad Taiwan, Tibet and human rights. Li said that both trade and exchanges in science and technology, culture and education were on the rise, adding that the two countries had good cooperation in international organizations including the United Nations. He pointed out that the Chinese side paid great attention to the strengthening of the relations with Portugal and was ready to make joint efforts with the Portuguese side to elevate bilateral relations.

On the same day, Li also held talks with his Portuguese counterpart, Antonio Manuel de Mendonca Martins da Cruz. Da Cruz said that the Portuguese side maintained China’s stability and development was vital to the country itself and the whole world at large. Noting that developing the relations with China was emphasized in Portugal’s external relations and both countries were keeping good political relationship, he said that bilateral economic, trade and cultural cooperation should achieve an overall development on the above-mentioned basis.  

The two ministers reached following agreements in the talks:

First, strengthen high-level mutual visits and personnel exchanges, making joint efforts to deliver early mutual visits; increase bilateral exchanges in the fields of science, technology and culture. Both sides agreed to jointly hold cultural, business and other kinds of celebrating activities next year to mark the 25th anniversary of the establishment of diplomatic relations.

Second, expand economic and trade cooperation. Both sides will encourage investment from each other. The Chinese side welcomes Portuguese enterprises to participate in the projects of 2008 Beijing Olympics and 2010 Shanghai World Exposition. China also agrees to host a China-Portuguese-speaking-countries forum on economic and trade cooperation (Macao) within the year and China-Portugal Mixing Committee meeting, and will strengthen economic and trade cooperation through Asian Development Bank.

Third, enrich exchanges in the fields of education, science and health, and strengthen bilateral cooperation on language teaching and learning, biological science, oceanography, agriculture and medicine.

Fourth, strengthen cooperation in multi-lateral fields, and continue coordination and cooperation in the United Nations and other international organizations to maintain common interests of both sides.  

Both sides expressed their gladness over the smooth development of affairs in every aspect of Macao after it returned to the motherland, noting they would make further efforts to keep Macao a bond of bilateral relations. They also exchanged views on issues pertaining to the Democratic People’s Republic of Korea, Iraq and the Middle East.