The trade turnover between Ukraine and Portugal saw a significant increase of USD 29.2 million in January-August 2024, according to the Ukrainian Economy Ministry. This positive trend follows a similar growth in 2023, with total trade reaching USD 293.7 million. Ukrainian exports to Portugal also rose by 64.6%, totaling USD 223.5 million.
Portuguese businesses are looking to expand into key sectors in Ukraine, including defense, mechanical engineering, and renewable energy. The Ukrainian government has incentivized Portuguese companies to localize their production in Ukraine, offering project financing through the Ukrainian Investment Framework.
After a six-year hiatus, Kyiv and Lisbon have planned the third meeting of the Ukrainian-Portuguese Commission on Economic Cooperation for November 15, 2024. This decision aims to deepen trade ties and involve Portuguese companies in Ukraine’s recovery projects.
The Portuguese Trade & Investment Agency will provide training to UkraineInvest professionals on attracting foreign investments, especially focusing on small and medium-sized businesses. This collaboration signifies a positive step towards strengthening economic cooperation between Ukraine and Portugal.
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