UK ambassador to Portugal highlights “thriving” £12Bn bi-lateral trade and investment between Portugal and Britain at the UK-Portugal Business Awards 2025

The stunning River Tagus location of SUD Lisboa Hall provided the backdrop to the 15th edition of the UK-Portugal Business Awards organised by the Department of British Trade team at the British Embassy in Lisbon held on Wednesday.

The awards recognise the entrepreneurial efforts of Portuguese companies that have chosen to invest in the UK during the previous financial year.

They also recognise the achievements of UK companies in the Portuguese market, including business deals, exports, and overseas direct investment.

“These thriving commercial ties are a 21st century commercial expression of an ancient alliance and our close people-to-people links” said the UK ambassador to Portugal, Lisa Bandari.

 

Dedication, innovation and hard work

The UK, the ambassador said, was proud to be the second largest foreign investor in Portugal, and Portugal’s fifth largest trading partner with a total bi-lateral trade worth UK £12Bn in 2024. (after Spain, France, Germany and the United States).

“We export more to Portugal than to Mexico, Malaysia or New Zealand. Today, we are honouring the achievements of 37 outstanding Portuguese and British businesses and recognising their dedication, innovation and hard work,” the ambassador continued.

To give a sense of what the dedication, innovation and hard work has contributed to, Lisa Bandari said that the 32 British companies exporting to and operating in Portugal had enabled transactions of just over £820 million, and had contributed to UK FDI in Portugal of £872 million.

This spanned sectors from aerospace, defence and financial services to life sciences, renewable energy, and technology.

Portuguese investors in the UK supported by the UK’s Department of Business and Trade had invested in projects totalling around £383 million and created 104 jobs in the UK. The sectors ranged from advanced engineering, aerospace, construction, consumer retail, and renewable energy.

The ambassador also thanked the trade team at the UK embassy in Portugal for “working tirelessly for the two countries, recognising that it was “an engine for growth, and improved the quality of life for our peoples and societies”.

 

A volatile moment

The ambassador stressed that “we are at a very volatile moment in global affairs, with a once in a generation challenge to European security”.

“For me it is very clear that we have never needed our oldest friends more. All of you making your hard-headed business decisions are also making a vote of confidence in terms of peoples and societies. You are trusting that you can prosper abroad, be that in the UK or Portugal,” said Lisa Bandari

This meant building mutually beneficial relationships and exchange of goods, services and knowledge.

 

A thriving business and trade relationship

His Majesty’s Trade Commissioner for Europe. Chris Barton CMG, said it was a pleasure to encourage a thriving business and trade relationship between the UK and European countries.

“It is the 5th time I have visited Portugal in my capacity as Trade Commissioner for Europe, which underlies how important the relationship between the UK and Portugal is, formed partly from the trade and business opportunities which we are rightly celebrating today.

“We see that and believe very strongly that it is business that drives growth, creates jobs, and improves our living standards, and that means that it is you that does these things, and drives the growth that we need to create jobs, and enables us to have great living standards,” he said.

And added: “This is important at any time, particularly now when we are making fundamental changes to our economies to ensure that we are sustainable in the future, not only environmentally, but also in the wider sense of the word”.

Also tremendously important, he said, in terms of “our security” at a time, as we know from the geo-political context, “is complex” before extending a big thank-you for all that the companies were doing to support mutual trade and investment and wider goals.

“It is pivotal to the wider relationship between the UK and Portugal. We are privileged to enjoy a rich commercial tapestry between the UK and Portugal with a very long history of friendship and our political, economic and commercial ties, and most importantly of all, I think, the personal interactions that exist between the two countries.”

“I again think that it is the business-to-business links and the trade and investment that you have that allow this to happen”, said Chris Barton CMG.

 

The winners

International Investment Award: CIMPOR, The Navigator Company

Investment Expansion Award: FRATO

Investment Growth Award: Greenvolt Group, TEKEVER

New Market Entry Award: Carbonside, Kindana & Company, Molendotech, Suade Labs

Export Excellence Award: Achilles Information Limited, Burson Portugal, Cambridge

International Education, Inzpire, Lucid Financial Markets, MDS Group, NCC Group, Thales

Growth Excellence Award: AstraZeneca, Avincis, BJSS, Cohort plc, Colt Technology

Services, Claranet Portugal, Ebury, EY, Frontier IP Group plc, GSK, Savills

Overseas Investment Achievement Award: Aura Power, Dukes Education, Open Cosmos,Patron Capital, The British School of Lisbon, WElink Group

Overseas Investment Leader Award: AtlasEdge, Arrow Global Group, Lightsource BP

 

About the UK-Portugal Business Awards

Organised by the UK’s Department for Business and Trade (DBT) in Portugal, the UK-Portugal Business Awards are an annual event that celebrate and acknowledge the entrepreneurial achievements of Portuguese companies investing in the UK, as well as British companies thriving in Portugal through exports, business success, and foreign direct investment.

The 15th edtion of the UK-Portugal Business Awards took place on 30th April. Explore our winners and connect with them to discover the inspiring stories behind their success.