The meeting took place during Poroshenko's visit to Portugal, the press service of the Head of State reported.
"The parties agreed on the availability of significant opportunities for intensifying trade and economic cooperation between Ukraine and Portugal. In this context, the prospects for implementing joint projects in various spheres were discussed," the report reads.
In particular, Poroshenko and Costa agreed to intensify the work of the Bilateral Intergovernmental Commission on Economic, Industrial and Technical Cooperation and hold its next meeting in 2018.
The parties agreed to intensify cooperation in energy, shipbuilding, aviation, as well as culture and tourism.
They also agreed to resume regular direct flights between Kyiv and Lisbon.
As Ukrinform reported, President Petro Poroshenko is on an official visit to Portugal on December 17-18.