Pedro Sánchez calls for synergies between Spain and the UK to be harnessed to strengthen bilateral economic relations

10 Downing Street, London (United Kingdom)

The President of the Government of Spain, Pedro Sánchez, and the Prime Minister of the United Kingdom, Keir Starmer, during their meeting with a group of business leaders (Pool Moncloa/Borja Puig de la Bellacasa)

The meeting, which was also attended by the Minister for Economy, Trade and Business, Carlos Cuerpo, and the British Chancellor of the Exchequer, Rachel Reeves, brought together sixteen key Spanish and British companies, and served to strengthen the solid economic ties between the two countries.

During his speech, the President of the Government of Spain highlighted the strength of economic relations between Spain and the United Kingdom, which have been able to withstand recent crises such as Brexit, the pandemic and the Russian invasion of Ukraine, and which are now facing a new stage of cooperation following the signing of the Bilateral Strategic Framework and the historic agreement on Gibraltar.

Pedro Sánchez recalled that Spain was the fastest growing major economy in the Eurozone between 2021 and 2024, and that it has created 20% of all jobs created in the EU during that period, which opens up new opportunities for investment and business partnerships with the UK. The President also stressed that the United Kingdom is the largest non-EU market for Spanish exports, with a value of more than 50 billion euros in 2024, and the second largest destination for Spanish direct investment in the world.

In this regard, he called for more to be made of the opportunities presented by the current context and the synergies between the two countries in strategic sectors such as renewable energies, sustainable mobility, defence, artificial intelligence and biosciences, with the aim of consolidating a stable, dynamic and long-term partnership.

Non official translation