The 5th Spain-UAE Joint Economic and Trade Commission promotes the strategic relationship

 

This ambitious strategy was realized during the fifth Joint Economic Commission, co-chaired by the Spanish Minister of Economy, Charles Body, and his Emirati counterpart, Abdullah Bin Touq Al Marri.

 

During the meeting, both ministers addressed the global economic situation and current challenges, highlighting the excellent momentum of bilateral trade and economic relations. They reaffirmed their commitment to continue strengthening these ties and exploring new avenues for collaboration.

 

Both sides committed to strengthening cooperation in key sectors such as mobility sustainable, green energy, technological innovation (with special emphasis on aerospace and defense technology), the agroindustry and food security.

 

Promotion of trade and investment

 

To promote trade and investment, it was agreed to encourage the participation of the business communities of both countries in trade and business fairs held in Spain and UAE.

 

An important milestone that was highlighted was the recent understanding between the European Commission and the UAE Government to begin negotiations on a Strategic Partnership Association. Spain has expressed its support for this future treaty, considering it crucial to diversify the economy in the Gulf region and strengthen the economic resilience.

 

Joint projects in third countries and investment promotion

 

Both delegations expressed their interest in exploring opportunities to promote investment projects in third countries, especially in Africa and Latin America. SpainWith its vast experience in infrastructure, logistics, renewable energy, and digitalization, it would complement the capital strength, regional influence, and strategic networks of Emirati companies.

 

In a significant step forward for business collaboration, the recent signing of a Memorandum of Understanding between the Federation of UAE Chambers of Commerce and the Spanish Chamber of Commerce on April 7, 2025, was highlighted. This agreement will lead to the creation of a UAE-Spain Joint Business Council, a fundamental platform for dialogue and collaboration between the private sectors of both countries. The Council will promote awareness of bilateral business opportunities, foster partnerships, and contribute to a favorable business climate.

 

Record in bilateral investment and trade

 

During this last edition of the mixed Commission, the dynamism and diversification of bilateral investments was emphasized. A crucial step forward was the completion of the work to modernize the Agreement on the Promotion and Reciprocal Protection of Interests between Spain and the United Arab EmiratesThe upcoming signing of this instrument represents a clear signal of commitment to promoting investment projects between both nations, providing greater certainty and facilitating operations.

 

Economic and trade relations between Spain and the UAE are experiencing an exceptional period, with bilateral trade figures reaching historic highs, reflecting the potential of this strategic partnership. In fact, the UAE has established itself as the main destination for Spanish exports in the Gulf region and ranks sixth as a non-EU destination for Spanish exports, surpassed only by USA, Türkiye, China, Morocco and Mexico.