While Turkish contractors are expected to hold talks for the high-speed train, metro, bridge, highway, port, and new Lisbon Airport project in Portugal, it is aimed that Turkish companies will play an active role in many projects ranging from housing to communications in the future within the scope of cooperation between the two countries.
Under the coordination of the Ministry of Trade, and in cooperation with the Turkish Contractors Association (TMB) and the Embassy of Portugal in Ankara, a contracting delegation visit to this country will be organized on October 13-16.
During the visit, which will cover the cities of Lisbon and Porto, Turkish contractors are expected to meet with the Portuguese Minister of Infrastructure and Housing, Miguel Pinto Luz. Furthermore, gathering information about the high-speed train, metro, bridge, highway, port, and new Lisbon Airport project and bilateral meetings between companies are planned.
Exports to Portugal increased by 13.6 percent annually in 9 months
According to data from the Turkish Statistical Institute (TÜİK) and the Turkish Exporters Assembly (TİM), exports to Portugal increased by 20.9 percent compared to the previous year, reaching $1.6 billion last year. Imports from the said country in 2024 decreased by 11.7 percent compared to the previous year, amounting to $1.4 billion. Accordingly, the bilateral trade volume between Turkey and Portugal reached approximately $3 billion last year.
In the January-September period of this year, exports to Portugal increased by 13.6 percent compared to the same period last year, calculated at $1.3 billion.
Motor vehicles led the way among the prominent products exported to Portugal. The highest chapter in Turkey’s exports to this country was “motor cars” with $162.3 million. This was followed by “cotton yarn” with approximately $136 million, and “flat-rolled products of iron or non-alloy steel” with $71.8 million.
In imports from this country during the same period, the “motor cars” chapter also ranked first with $241.1 million. This product was followed by “chemical wood pulp, soda or sulphate” with $101.3 million, and “parts and accessories for motor vehicles” with $93.1 million.
Mutual investments are being made in information technology, renewable energy, and tourism
Within this framework, while it is aimed to increase the trade volume between Turkey and Portugal to $3.5 billion, the two countries are also focusing on developing cooperation in sectors such as direct investment, construction and infrastructure projects, renewable energy, and logistics.
Companies with Portuguese capital operate in various sectors in Turkey, from information technology and telecommunications to ready-to-wear and footwear, from renewable energy to decoration.
In investments from Turkey to Portugal, port operations, mining, tourism and hospitality, real estate, maritime transport, white goods, pharmaceuticals, jewelry, agriculture, and food sectors stand out.
In the future, it is aimed for Turkish companies to take an active role in Portugal in large-scale projects such as infrastructure, transportation, high-speed rail, housing, and communications.
Bilateral cooperation is also strengthening in the defense industry
Cooperation between the two countries is strengthening with significant projects in different fields such as the defense industry, technology, and airlines in recent years.
In accordance with the agreement made last year, military ship exports were made for the first time to a European Union and NATO member country with two “Replenishment and Logistics Support Ships” that Turkey will design and build for the Portuguese Navy.
Furthermore, Turkish Airlines (THY) and Portugal’s airline TAP Air Portugal expanded their existing code-sharing partnerships (a type of partnership where one airline sells seats on a flight operated by another airline) this year. Thus, in addition to existing flight points, international destinations such as Brazil, Morocco, Qatar, Mauritius, and domestic destinations such as Dalaman and Bodrum were added, increasing the alternative routes between Turkey and Portugal.
