The initiative was announced at a summit in Paris by the leaders of France, Britain, Germany, Italy, the Netherlands, Norway, Spain, Sweden and Denmark, as Ukraine seeks stronger protection against intensified Russian missile attacks, the Reuters news agency reported.
The effort also brings together about a dozen European defence companies, including Eurosam, Leonardo, Thales and Saab, it said.
"We believe that the protection of Europe requires a global solution of integrated missile defence architecture to deter and defeat future missile threats," the leaders of the 10 countries said in a joint statement.
They said the planned system would complement existing missile defence capabilities, including European systems already deployed or planned by participating countries.
Ukraine has repeatedly warned that it is running short of interceptor missiles and has struggled in recent weeks to defend against Russian ballistic missile attacks, which travel at several times the speed of sound, the Reuters news agency reported.
Kyiv has urged allies to provide additional air defence systems while also backing the development of a European alternative.
The coalition's work will focus on the Freyja project, a Ukrainian initiative to develop a European-backed, lower-cost anti-ballistic missile system that would complement, rather than replace, existing systems such as the Patriot, according to Reuters.
Ukraine says the project could become operational within 12 months.
"The more means Ukraine has to shoot down Russian ballistic missiles, the greater the chance that Putin will come to the negotiating table, as his last argument in this war will no longer work," Ukrainian President Volodymyr Zelensky said.
"Our work on a joint system—Freyja—is not intended to replace existing systems," he added. "It is a way to supplement our defence, create a strong shield over the entirety of Europe, and do all of this faster and at a lower cost."
Zelensky on Monday joined some 25 leaders, including Poland's Prime Minister Donald Tusk, for a broader meeting of the Coalition of the Willing in the French capital, part of efforts to work out security guarantees for Ukraine to support a potential peace deal with Russia.
French President Emmanuel Macron said after the Coalition of the Willing meeting that Ukraine had ordered the next-generation Franco-Italian SAMP/T air defence system, following earlier deliveries of the existing version and interceptor missiles.
He also announced that France would allow Ukraine to produce interceptor missiles for the SAMP/T system, precision-guided bombs and SCALP long-range cruise missiles under licence.
Macron also said Ukraine would receive 16 Rafale fighter jets by 2028-2029.
Monday's summit also addressed ways to increase supplies of Patriot interceptor missiles and announced plans for joint military exercises in countries bordering Ukraine as part of preparations for a future multinational force to support the country, Reuters reported.
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Source: PAP