Within the framework of the first edition of Trade and Investment Dialogue bilateral meeting held in Madrid, the Minister of Economy, Trade and Business, Carlos Cuerpo, and the Minister of Economy and Finance of Reino Unido, Rachel Reeves, have signed a Joint declaration to promote professional mobility and mutual recognition of qualifications, with the aim of boosting economic flows between both powers.
A new chapter in bilateral relations between Spain and the United Kingdom
The visit of Rachel Reeves This marks a diplomatic milestone as it is the first time in 11 years that a British finance minister has officially traveled to SpainThis meeting marks the beginning of a phase of enhanced collaboration under the Bilateral Strategic Framework Agreement, previously signed by the president Pedro Sánchez and the prime minister Keir Starmer.
The core of the agreement focuses on the cost reduction and administrative simplification for short-term cross-border travel. This measure is vital for service providers, as it seeks to streamline current procedures, eliminating obstacles that hinder investment and trade with the main destination for Spanish exports outside the EU. European Union.
During the day, Carlos Cuerpo He emphasized the importance of this alliance in the current geopolitical landscape: “It is precisely during times of greatest global volatility and uncertainty that we most need to be close to our allies. With the Declaration we are signing today, we are giving this alliance the institutional support it deserves, to make life easier for our companies.”
Recognition of qualifications and bilateral trade figures
One of the most significant advances is the commitment to the mutual recognition of professional qualifications, specifically in the sectors of audit y juridical servicesThis measure will allow accountants and lawyers to practice in both jurisdictions more easily, eliminating technical barriers to trade in professional services.
The strength of the economic relationship is evident in the trade figures, which have shown remarkable resilience in the face of economic challenges. shocks external Spain It consolidates its position as the second largest global provider of services to Reino Unido, second only to United States, after experiencing a growth of 57% in the last decade.
| Economic Indicator | Value / Data |
|---|---|
| Bilateral trade in goods (last 7 years) | 35.700 billion euros (+12%) |
| Total trade in goods and services | Nearly 80.000 million euros |
| Trade and investment combined | Over 200.000 million euros |
| British companies in Spain | Approx. 2.300 companies |
| Spanish companies in Reino Unido | Nearly 800 companies |
| Next milestone: Roadmap | Before June 2025 |
| Follow-up meeting | Last quarter of 2026 |
Strategic investments and business forum
Business dynamism is reflected in recent large-scale contracts. The technology sector Indra The management of the public transport access system was awarded in January. London for 1.000 billion euros. For its part, Navantia has begun construction of ships for the British Ministry of Defence after acquiring four facilities on British soil.
The ministers also participated in a Business Forum by ICEX España Exportación e Inversioneswhere they held meetings with leaders of companies such as GSK, Octopus, Vidrala, ITP Aero, SSE Spain, Saica y Factorial, among others.
As a roadmap, both governments have committed to defining shared priorities before June and to conducting an assessment of progress at a follow-up meeting scheduled for the end of 2026.
Key points and frequently asked questions about the Spain-UK agreement
Which sectors will benefit from the recognition of degrees?
Primarily the sectors of audit (accountants) and juridical services (lawyers), making it easier for these professionals to operate legally in both countries without the current administrative obstacles.
How does this agreement affect business travel?
Governments are committed to reducing both the cost and duration of procedures for short-term cross-border moves for the provision of services, streamlining post-Brexit labor mobility.
What is the current volume of trade between the two countries?
Trade in goods and services is approaching 80.000 millones de euroswhile the combined figure, which includes direct investments, exceeds 200.000 millones de euros, consolidating the Reino Unido as a key strategic partner.
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