The recent events in the world confirmed the need for political cooperation between Russia and Portugal. It is necessary to lay down strong foundations in the sphere of economic cooperation, Portuguese President Jorge Sampaio told St. Petersburg Governor Vladimir Yakovlev Monday. The Governor acquainted the distinguished Portuguese guest with the economic, scientific and cultural potential of Russia's "northern capital". Yakovlev spoke out in favour of St. Petersburg's cooperation with Portugal in the sphere of tourism, the hotel business and shipbuilding. In addition, he proposed to consider local shipbuilding companies' participation in the development of the Portuguese energy complex. Jorge Sampaio gave a positive appraisal of the prospects for cooperation between St. Petersburg and Portugal and invited a delegation of local businessmen to visit Portugal.