Government has new measures to assist companies under way

The understanding reached between the European Union and the United States of America represents an essential step towards the predictability and stability our companies need.

At a time set by tensions and uncertainty in international trade, the escalation of protectionist measures was avoided, guaranteeing clearer conditions for our exporting companies to operate in. 

Even so, nothing replaces the freedom of trade. And that is why Portugal will uphold an active stance in promoting the gradual elimination of trade tariffs and other barriers.

Considering the possible impacts of the customs policy indicated by the US at the start of the year, the Government approved in April the Reforçar (Boost) Programme -Competitiveness, Exports, and Internationalisation, with a series of measures to assist companies with the aim of mitigating possible negative effects.

Under the Portuguese Development Bank (BPF) Invest EU lines, 14 thousand applications were received to a total sum of 3.2 billion euros, of which .5 billion have already been approved and 1.6 billion paid out to companies.

The BPF Invest Export PT line was also set up, focusing on exporting SMEs and it has had 2,600 applications to a total sum of 1.3 billion euros. Of these, 600 million have already been approved.

Lastly, under the new PT2030 Incentives Programme a line of non-refundable subsidies has already been set up for joint projects, fostering a collaborative approach on foreign markets.

We are now going further: we have brought the timeline for the bids for collective actions for internationalisation forward and it will begin on 31 June.

We are strengthening the path we began with a clear vision: getting exports of goods and services to represent more than 50% of GDP by 2029. This is about consolidating a growth trajectory with a focus on our companies’ competitiveness and international presence.

The immediate focus is on offering closer support that is more customised and suited to companies’ concrete needs. 

The Government will remain vigilant in order to act in situations that are seen to be particularly relevant and will use as its main liaison the AICEP, the Portuguese Foreign Trade Agency, which will play a pivotal role in identifying the exporting companies’ specific needs, in collecting market information, and in articulating with the assistance instruments available on a national and European level.

The Government will continue to act and follow closely the agreements’ developments, anticipating problems and adjusting solutions. Always listening to those on the ground and who know the reality better than anyone.