Ukraine and Portugal agree to hold third meeting of the Joint Commission on Economic Cooperation, – Yuliia Svyrydenko
31.10.2024 | 08:55 | Section for Public and Mass Media Relations
The third meeting of the Ukrainian-Portuguese Joint Commission on Economic Cooperation will be held on 15 November 2024. This was discussed during a meeting between First Deputy Prime Minister – Minister of Economy of Ukraine Yuliia Svyrydenko and Minister of Economy of Portugal Pedro Reis.
“I am grateful to the Minister of Economy of Portugal that after a long break of more than 6 years, we will hold the third meeting of the Ukrainian-Portuguese Commission on Economic Cooperation. This important decision will allow us to deepen our trade and economic cooperation, as well as to involve Portuguese companies in projects aimed at restoring Ukraine,” Yuliia Svyrydenko said following the meeting.
According to Yuliia Svyrydenko, the dialogue between Ukrainian and Portuguese businesses can help attract investment and increase trade.
According to the results of 2023, bilateral trade with Portugal amounted to USD 293.7 million and increased by 49.4% compared to the corresponding period of 2022. Exports of goods from Ukraine also grew, totalling USD 223.5 million last year, up 64.6% compared to 2022.
The growth continued this year. In January-August 2014, bilateral trade increased by 15.1% or by USD 29.2 million compared to the same period last year.
At the same time, according to the Minister of Economy of Portugal, Pedro Reis, Portuguese companies are actively interested in cooperating with Ukraine in such sectors as defence, mechanical engineering, light industry, agriculture, pharmaceuticals, renewable energy, and engineering. Yuliia Svyrydenko called on Portuguese companies to localise their production in Ukraine.
“Portugal is also interested in participating in Ukraine’s recovery projects through its development institutions, for example, the Portuguese Promotional Bank, and applying for funding under the Ukraine Investment Framework. We discussed with our partners the priority sectors for Ukraine to attract investment and handed over the Investment Guide that we presented in Berlin during the URC, which contains a description of 95 investment projects in priority areas,” Yuliia Svyrydenko said.
Background information
The first meeting of the Ukrainian-Portuguese Joint Commission on Economic Cooperation was held on 3 April 2009 in Kyiv. The second meeting of the Commission took place on 20 June 2018 in Lisbon.
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