António de Oliveira Salazar
Despite the authoritarian character of the regime, Portugal did not experience the same levels of international isolation as Spain did following World War II. Unlike Spain, Portugal under Salazar was accepted into the Marshall Plan (1947–1948) in return for the aid it gave to the Allies during the final stages of the war. Furthermore, also unlike Spain, it was one of the 12 founding members of the North Atlantic Treaty Organisation (NATO) in 1949, a reflection of Portugal's role as an ally against communism during the Cold War in spite of its status as the only non-democratic founder. In 1950, Portugal joined the European Payments Union and participated in the founding of the European Free Trade Association (EFTA) in 1960 and the Organisation for Economic Co-operation and Development in 1961. It joined the General Agreement on Tariffs and Trade in 1962, and finally, Portugal signed a free trade agreement with the European Economic Community in 1972, still under the auspices of the "Estado Novo".
Peter II of Portugal
Peter initially supported France and Spain in the War of Spanish Succession (1701–1714), but on 16 May 1703, Portugal and England signed the Methuen Treaty. This trade accord granted mutual commercial privileges for Portuguese wine and English textile traders and would later give England significant influence in the Portuguese economy. This was followed in December 1703 by a military alliance between Portugal, Austria and England for an invasion of Spain. Portuguese and Allied forces, under the command of the Marquis of Minas, captured Madrid in 1706, during the campaign which ended in the Allied defeat at Almansa.