Spain and the United Arab Emirates promote a new strategic relationship that deepens their political and economic ties with the signing of a joint statement

Abu Dhabi (United Arab Emirates)

This official visit to the United Arab Emirates (UAE) by the President of the Government of Spain takes place on Spain Day at the Dubai EXPO 2022. Pedro Sánchez was accompanied by the Minister for Foreign Affairs, European Union and Cooperation, José Manuel Albares, and the Minister for Industry, Trade and Tourism, Reyes Maroto.

It is the first trip by a Spanish president to the UAE since 2011. This visit has two objectives: to support and strengthen the presence of Spanish companies in the UAE within the framework of the Universal Exposition; and to relaunch the relationship between Spain and the Emirates, raising it to a strategic level "in a multidimensional and mutually beneficial way", as the president stressed, who said he was "satisfied that both objectives have been met".

In this context, President Sánchez held a working meeting with H.H. the Crown Prince of Abu Dhabi, Mohammed bin Zayed Al Nahyan, as well as with the Emirati Prime Minister and Emir of Dubai, Mohammed Al Maktoum, which resulted in the adoption of a Joint Statement .

It reviews the sectoral areas of current cooperation between Spain and the UAE and expresses the decision to increase them qualitatively and quantitatively through the implementation of "a new and ambitious framework of relations" between the two countries. This new framework is "based on the shared will to work together to achieve a just and sustainable collective recovery from the COVID-19 pandemic, as well as to further expand bilateral relations for the benefit of the two peoples, contributing to regional and global peace and stability".

The Declaration also includes Sánchez's congratulations to the people of the UAE on the anniversary of their founding as a nation in 1971, as well as for their "magnificent organisation of the World Expo around the idea of global cooperation, dialogue and innovation for a more sustainable future".

The President of the Government of Spain has invited H.H. the Crown Prince of Abu Dhabi, Mohammed bin Zayed, for an official visit to Spain to further build on this strategic partnership and strengthen the strong ties of friendship and partnership between the two countries.

Investment and business

Pool Moncloa / Borja Puig de la BellacasaIn addition to the adoption of the Joint Statement, this official visit also saw the conclusion of negotiations on the Agreement for the Promotion and Reciprocal Protection of Investments, which has been underway since 2003. An MoU has also been signed between the Emirati sovereign wealth fund Mubadala and its Spanish counterpart COFIDES to identify investment opportunities in Spain, with special consideration for sectors such as energy transition, sustainable mobility, circular economy, digitalisation, biotechnology, agribusiness and social inclusion.

The President of the Government of Spain highlighted this Memorandum "for its enormous development potential". It involves the mobilisation of funds for investments in Spanish companies developing projects supported by EU funding under the Recovery, Transformation and Resilience Plan.

Six other MoU have also been adopted in areas such as industry, health, education, universities, cybersecurity and climate change; and a Declaration for the exchange of best practices in the fight against COVID-19.

It was an official trip with a marked profile, not only political, but also economic and commercial, with the aim of promoting and strengthening the presence of Spanish companies in the Emirates.

In this context, Sánchez inaugurated the Business Meeting organised by ICEX, in which he highlighted the "undoubted international leadership" of Spanish companies in sectors such as engineering, renewable energies, water, transport, tourism, banking and information technologies. "They are a source of pride and an example" for many other Spanish companies interested in internationalisation, the President of the Government of Spain stressed.

Non official translation