The UAE and Spain agree to develop their partnership in the new economy, tourism, entrepreneurship, technology, renewable energy and agriculture

Abdullah bin Touq Al -Marri, Minister of Economy, and Carlos Quirbo, Minister of Economy, Trade and Business, chaired the meetings of the fifth session of the Joint Economic Committee between the UAE and the Kingdom of Spain, which was held in the capital Madrid during the day 2 and 3 June 2025, in the presence of senior officials from government agencies from the two countries. During the meeting, the governments of the two countries agreed on a work plan that includes a joint economic cooperation program in a number of priority sectors, and to achieve higher levels of partnership and coordination in the next stage at the government and private levels in the fields of new economy, tourism, renewable energy, infrastructure, and entrepreneurship, with the aim of enhancing institutional coordination, stimulating mutual investments, expanding the scope of partnerships in regional markets And international, to support the targets of sustainable growth in the two friendly countries.
Abdullah bin Touq Al -Marri stressed that the UAE and the Kingdom of Spain are united by strong and strategic economic relations, in light of the common visions of the two friendly countries to develop cooperation aspects in a comprehensive manner, as the current session of the committee represents an important and new station in the economic partnership march between the two countries, and contributes to developing clear action plans to enhance economic cooperation, which contributes to pushing economic relations to more advanced and prosperous levels, especially in the future sectors related to the new economy, Like technology, renewable energy, logistics and industry, pointing out that these efforts come within the framework of the strategic directions of the state and the “UAE 2031” vision targets to enhance its position as an attractive and influential global economic center.
The economic relations between the two countries are witnessing an accelerated growth, as non -oil trade between the UAE and Spain recorded a record number of $ 3.3 billion in 2024, a growth of 17% from the previous year, which reflects the dynamism of trade exchange and integration in value chains. The UAE is also the largest Arab investor in Spain with more than $ 7 billion, while Spanish investments in the country continue to grow to more than $ 408 million, which enhances the mutual position between the two countries as strategic partners. Bin Touq said: “Through this committee, we look forward to translating these indicators into tangible executive initiatives in major sectors such as renewable energy, logistics, industry, and digital transformation, as well as supporting small and medium enterprises, in order to support expansion in external markets.”
Bin Touq added: “We agreed during the joint committee meeting on an integrated economic cooperation program for the next stage in which governmental and private bodies participate in the UAE and Spain, focusing on the future economic sectors, in a way that stimulates qualitative investments, enhances the channels of communication between the government and private sectors, and supports creating new development opportunities and pushes economic relations towards more advanced horizons, and pours in establishing their position as economic forces in the Middle East and Europe.”
The committee’s agenda included extensive discussions between representatives of government agencies and business community in the two countries, which dealt with mechanisms for diversifying trade and enhancing the investment environment in sectors of common attention, as well as organizing economic activities accompanying to highlight the promising commercial and investment opportunities in the markets of the two countries. The Emirati and Spanish sides also discussed the opportunities for cooperation in a number of economic areas of common concern to both, most notably the sectors of the green economy, the circular economy, agricultural technologies, and food security, as well as the importance of strengthening partnership and expanding mutual development paths.
During the meeting, the two sides reviewed the common visions to enhance cooperation between the UAE and Europe, and work to enhance the smooth flow of trade and develop future partnerships between the UAE and the countries of the eurozone, stressing the importance of maintaining continuous coordination in a way that is in the growth and sustainability of their economists. The two sides welcomed the recently signed memorandum of understanding between the UAE Chambers of Commerce and Industry and the Spanish Chamber of Commerce, which aims to establish a joint business council that stimulates the private sector communication in the two countries, and support bilateral initiatives in the fields of trade and investment.
During the meeting, the two parties agreed on the need to start expanding their cooperation in external markets, especially in Africa and Latin America, through joint investment programs targeting qualitative projects in infrastructure, energy, digital transformation and logistical services, as the UAE today is one of the most prominent centers of commercial and logistical links worldwide, thanks to the provision of infrastructure and flexible technology for maritime and air transportation. And land, characterized by the highest levels of readiness, efficiency and safety in distributing goods and goods. Where the state has established its position in the global trade system, supported by its leadership in developing advanced developmental corridors according to the highest international standards.

During the meeting, the two sides touched on the mechanisms necessary to facilitate investment flows, with a focus on health sectors, renewable energy, nuclear energy, advanced technology, and industrial innovation, stressing the importance of facilitating investors’ work to enter the markets of the two countries and enhance mutual trust in a way that increases foreign direct investment in the UAE and Spain, especially since the UAE is the third largest Arab trading partner for Spain, while Spain occupies Spain The sixth rank is among the largest commercial partners in the European Union of the UAE.
The meeting also witnessed the discussion of ways to enhance cooperation in the areas of advanced technology, such as artificial intelligence, quantum computing, robots, advanced materials, and health care, with a focus on developing joint research and linking them to industrial applications, as the basis for developing a joint innovation program between the two sides. The two sides also stressed the importance of developing joint qualitative initiatives to support small and medium -sized companies and support their expansion and their transition between the markets of the two countries, and to provide appropriate financing programs to accelerate their growth, and work to encourage more partnerships between the private sector in the two countries.

The two sides reviewed the growth indicators in the tourism sector between the two countries for the year 2024, where the number of guests of hotel establishments coming from Spain in the UAE reached about 150,231 inmates, compared to 131,673 inmates in 2023, and there are 192 flights per month for Emirati national tankers to various Spanish cities. The two sides agreed to accelerate coordination between the concerned authorities in the two countries with the aim of enhancing tourism flows, and organizing joint promotional activities that highlight the distinguished cultural and tourist attractions in the Emirates and Spain, especially since the two countries are considered one of the most prominent tourist destinations globally with their attractive and competitive tourism ingredients.

On the sidelines of the meeting, the Emirati Spanish Business Forum was held, in the presence and participation of a number of bodies representing the governmental and private sectors in the two countries, where the attendees reviewed the positive developments taking place in economic relations between the UAE and Spain, and its role in pushing cooperation to advanced stages of coordination and understanding, especially in investment areas of importance, and developing new mechanisms to enhance direct communication between the business community, and raise the level of cooperation between companies in the two countries.
The forum highlighted the indicators of the growing trade and investment exchange between the two sides, in addition to reviewing the flexible and stimulating investment environment provided by the UAE, including allowing foreign ownership of companies by 100%, and the ease of establishing companies and various economic activities in a digital manner in more than 2000 economic activities, and the availability of more than 40 free zones in the country provides exceptional incentives, in addition to long -term competitive systems The period of periods ranging between five or ten years, for investors, entrepreneurs and talents.
Abdullah bin Touq, the Spanish business community called for benefiting from the possibilities and opportunities provided by the business environment in the Emirates, which is characterized by its openness and diversity, and the provision of a flexible technical and legislative infrastructure that stimulates growth and expansion, especially with the presence of more than 3 thousand commercial licenses for companies fully or partially owned by investors of Spanish nationality, which reflects the durability of economic relations between the two countries, and trust Mutual business and investment climate in the country.