Dublin, Sept. 1, 2026 (Lusa) - Portugal's foreign minister said on Tuesday that there were «enormous opportunities for Portuguese companies» in Ireland due to the public investment currently underway in sectors such as energy and rail, and urged that these opportunities be seized.
Speaking to the Lusa news agency after a meeting with the Irish prime minister, Micheál Martin, in Dublin, as part of a visit to Ireland that also included a day dedicated to economic diplomacy, Paulo Rangel highlighted the bilateral economic potential between the two countries.
«There is a plan, Ireland 2040, which, for example, in the electricity and energy sector alone, amounts to €1 billion a year until then. And the same applies to the railways: over €1 billion a year on railway construction, railway equipment, and so on,» he explained.
Rangel emphasised that these are «very, very important public investments, in which Portuguese companies can play a significant role and have a great opportunity», stressing that he had spoken to the Portuguese Ambassador to Ireland about organising an economic forum between Lisbon and Dublin.
«Because the opportunities for Portuguese companies and the opportunities for Irish investment in Portugal are truly vast and are not always, I would say, on the radar of Portuguese companies,» he noted.
When asked when this economic forum might take place, Rangel indicated that he still needs to speak with the Portuguese Agency for Investment and Foreign Trade (AICEP), but suggested that it could happen in the «short term».
«There is a high degree of complementarity between the two economies, and Portuguese expertise and experience, for example, in all aspects of telecommunications networks, energy networks, infrastructure, housing construction, and everything to do with the railways… Portugal does, in fact, have the capacity to meet these demands,» he noted.
In addition to this economic aspect, Paulo Rangel noted that during his visit to Ireland he held meetings with his Irish counterpart, Helen McEntee, and today with the prime minister, Micheál Martin, during which he discussed bilateral relations as well as major issues in European politics.
Specifically, Paulo Rangel noted that he discussed the European Union's (EU) next budget for the period 2028–2034 with Irish officials, which the current Irish presidency of the Council of the EU intends to finalise by the end of the year.
He indicated that Irish officials had shown an understanding of the Portuguese arguments, particularly with regard to cohesion policy, noting that Ireland is a country in a «particularly favourable position to understand the positions of the various countries that have differing or conflicting aspirations».
«Because Ireland has been a major beneficiary of cohesion and, at the same time, has pursued an extremely prudent financial policy. (…) It therefore understands very well the aspirations of the cohesion countries, as well as those of frugal countries,» said Rangel, adding that there is «a great opportunity to finalise this dossier in time».
He indicated that he had also discussed with the prime minister and the Irish Foreign Minister the issues of EU enlargement, the Savings and Investment Union, trade policy and relations with the United States.
Rangel described his visit to Ireland, during which he will attend the informal meeting of EU foreign ministers on Wednesday, as «very positive» and «unusually detailed».
«It has had a huge impact both politically and economically,» said the Portuguese minister, adding that on Saturday he also devoted a day to cultural matters, to encourage exchanges between the two countries.
TA/ADB // ADB.
Lusa
