Pedro Sánchez underlines the strength of "deep economic and business ties" between Spain and Brazil

Sao Paulo (Brazil)

The President of the Government of Spain defined Brazil as "a friendly country in human terms, an ally in political terms and a partner in economic terms" in his opening speech of the Spain-Brazil Business Meeting held in Sao Paulo. The president underlined that the excellent economic and trade relations between the two countries are exemplified by their deep business ties.

He also reaffirmed that Spain is the world's second largest investor in Brazil, behind only the US, and the second largest destination for our exports to Latin America, a situation he described as "no coincidence". According to Sanchez, Brazil is a very attractive investment destination due to multiple factors, including the policies implemented by the Lula da Silva government.

The President of the Government or Spain, Pedro Sánchez, together with the Minister for Economy, Trade and Enterprise, Carlos Cuerpo, during the dialogue table held at the inauguration of the Spain-Brazil Business Meeting | Pool Moncloa / Fernando Calvo

In this regard, President Sánchez highlighted the economic similarities between the two countries: "Spain led the advanced economies in growth in 2023: 2.5%, exceeding, like Brazil, all expectations". He also pointed to synergies, such as seeing leadership in the energy transition and decarbonisation of the economy as crucial attractions for international investment.

"A process in which we aspire to be a world reference," said the president, thanks to Spain's technological and innovation capacity, and its abundance of sun and wind. "Clean and cheap energy is our main competitive advantage," he argued.

"This is why the collaboration between the two countries in the field of ecological transition, the green economy and the protection of the Amazon "represents a unique opportunity", he went on to explain. In this regard, he called for joining forces and promoting projects in the field of renewable energies, clean technologies and sustainable development.

Spain leads Latin America's largest civil works project in progress

The President of the Government of Spain, Pedro Sánchez, during the visit to the works of line 6 of the Sao Paulo metro, carried out by company Acciona | Pool Moncloa / Fernando Calvo

The President of the Government of Spain has visited the extension works of line 6 of the Sao Paulo metro, which is led by the Spanish company Acciona, accompanied by its chairman, José Manuel Entrecanales, and the Minister for Economy, Trade and Enterprise, Carlos Cuerpo. It is the largest civil engineering project under construction in Latin America.

"It is only fair to vindicate the importance of this project," said Sánchez, which is also based on a conviction shared by the governments of Spain and Brazil: the need to move towards sustainable mobility.

The President stressed that this is a project committed to the environment and to achieving gender equality. It involves more than 750 women, who are an integral part of the project and who, for example, have manufactured 70% of the more than 60,000 voussoirs produced for the construction of the tunnels, the president explained.

Spanish companies have a very significant presence in strategic sectors such as infrastructure and civil works, Sánchez said.

In the latter, Spain stands out as second in the ranking of the Brazilian government's public-private partnership programme - Programa de Parcerias de Investimentos - with secured investments of €8.7 billion.

EU-Mercosur agreement and shared global interests

Speech by the President of the Government of Spain, Pedro Sánchez, during the presentation of the project for the Sao Paulo metro works, carried out by company Acciona | Pool Moncloa / Fernando Calvo

Spain is a key destination for Latin American companies, the president pointed out. Latin America is the fourth largest investor in Spain, with a volume of more than €68 billion.

But Spain's firm commitment to deepening economic and trade relations with the region will continue to be "incomplete" until the agreement between the EU and Mercosur is ratified, the president defended.

Spain's commitment is firm. He defined it as an agreement that will create shared prosperity, even if it is questioned by some. Europe and Latin America are "strategic partners" and an agreement between the two regions will bring about "profound changes in the geopolitical context".

Referring to the international arena, the president also reaffirmed the need to tackle the reform of the global financial system so that "no country has to choose between fighting poverty and fighting for the planet".

This position coincides with the priorities and objectives of COP30, to be held in Brazil in 2025, and which are aligned with the goals set for the Fourth International Conference on Financing for Development to be held in Spain in the middle of next year.

Meeting with the Association of Spanish Scientists in Brazil

The President of the Government of Spain, Pedro Sánchez, during his meeting with the Association of Spanish Scientists in Brazil (ACEBRA) at the Instituto Cervantes in Sao Paulo | Pool Moncloa/Fernando Calvo

At the end of the day, the President of the Government of Spain held a meeting with the Association of Spanish Scientists in Brazil (ACEBRA) at the Instituto Cervantes in Sao Paulo. It served to see first-hand and support the activity carried out by Spanish scientists in Brazil and scientific cooperation with the country.

The mission of this consortium is to foster scientific relations between Spain and Brazil, facilitating connection between Spanish researchers living and working in Brazil and Brazilians with academic and scientific interests in Spain.

In this regard, a memorandum of understanding (MOU) has been signed between the Centre for Technological Development and Innovation (CDTI) and the Research Support Foundation of the State of Sao Paulo (FAPESP), the most powerful public research institution in the country. Spain is Brazil's third partner country in the scientific field, with this activity having increased in recent years and now reinforced thanks to this official trip with the signing of five memorandums.

Non official translation