Ukraine is strengthening its trade and economic cooperation with Portugal and involving participation in reconstruction projects.

Bilateral trade between Ukraine and Portugal increased by $29.2M (+15.1%) for eight months of 2024 compared to last year. Positive dynamics have been observed since 2023, when turnover reached $293.7M (+49.4% over 2022). At the same time, the export of Ukrainian goods to Portugal increased by 64.6% to $223.5M, the Ministry of Economy noted.

Moreover, the Portuguese business community plans to expand its presence in Ukraine in seven key sectors: defense, engineering, light industry, agriculture, pharmaceuticals, renewable energy sources, and engineering. In turn, the Ukrainian side has offered Portuguese companies the opportunity to localize their production in Ukraine.

The Portuguese Development Bank will consider financing projects within the Ukraine Investment Framework.

In addition, after a break of more than six years, Kyiv and Lisbon decided to hold the third meeting of the Ukrainian-Portuguese Commission on Economic Cooperation on November 15.