Spain strengthens bilateral relations with the United Arab Emirates and boosts the presence of Spanish companies in the Middle East

The Minister for Economy, Trade and Business, Carlos Cuerpo, together with the Minister for Economy of the United Arab Emirates (UAE), Abdulla Bin Touq Al Marri

The Minister for Economy, Trade and Business, Carlos Cuerpo, together with the Minister for Economy of the United Arab Emirates (UAE), Abdulla Bin Touq Al Marri, chaired the fifth Joint Economic Commission between the two countries. At the meeting, they discussed the economic situation in their countries and global challenges. They highlighted the good momentum of bilateral trade and economic relations, reaffirming their commitment to further strengthening these ties and exploring new opportunities for collaboration.

Along these lines, both parties undertook to strengthen relations in sectors linked to sustainable mobility, green energy, technological innovation, with a special focus on aerospace technology and defence, and agro-industry and food safety.

Also within the framework of this commission, it was agreed to promote the participation of the business communities of both countries in trade and business fairs taking place in the UAE and Spain to promote trade and investment.

Both delegations highlighted as a milestone the recent understanding between the European Commission and the Government of the UAE to start negotiations on a Strategic Partnership Association. Spain supports this future treaty to promote greater diversification in the Gulf region and strengthen economic resilience.

Both sides also expressed their interest in exploring opportunities to promote investment projects in third countries, with a special focus on Africa and Latin America. In this regard, Spanish companies bring extensive experience in infrastructure, logistics, renewable energy and digitalisation, while Emirati companies offer capital strength, regional influence and strategic networks.

Both countries also highlighted the recent signing of the Memorandum of Understanding between the UAE Federation of Chambers of Commerce and the Spanish Chamber of Commerce for the creation of a Joint UAE-Spain Business Council, signed on 7 April 2025. This initiative will be a platform for dialogue and collaboration between private sector actors from both countries. The council will also promote awareness of bilateral business opportunities, encourage the formation of partnerships and contribute to the creation of a favourable business climate.

Increasing investment

In this latest edition of the Joint Commission, both delegations underlined the dynamism and diversification of bilateral investments. The conclusion of the work on the modernised Agreement on the Promotion and Reciprocal Protection of Interests between Spain and the UAE was highlighted, a key step towards reinforcing certainty and facilitating investment.

The forthcoming signature of this instrument is a clear sign of the commitment to promote investment projects between the two countries.

Bilateral relations

Spain and the UAE are experiencing an exceptional moment in their economic and trade relations. Bilateral trade figures have reached record highs, reflecting the dynamism and potential of this strategic partnership.

The UAE has consolidated its position as the main destination for Spanish exports in the Gulf region. In fact, it is the sixth most important non-EU destination for Spanish exports, behind only the US, Turkey, China, Morocco and Mexico.

Non official translation