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Press Release

UAE and Spain to strengthen economic partnership across new
economy sectors, tourism, entrepreneurship, technology, renewable

energy, and agriculture

H.E. Bin Touq: UAE and Spain share a common vision to foster high-value
partnerships that drive sustainable economic growth

Abu Dhabi, June 03, 2025:

H.E. Abdulla bin Touq Al Marri, Minister of Economy, and H.E. Carlos Cuerpo, Minister of
Economy, Trade, and Business of Spain, co-chaired the fifth session of the UAE-Spain Joint
Economic Committee (JEC), held in Madrid on June 2–3, 2025. The meetings were attended by
senior officials from both sides.

Agreement on action plan to boost bilateral economic cooperation

During the session, both governments agreed on an action plan outlining a joint economic
cooperation program covering a range of priority sectors. The plan aims to deepen collaboration
and coordination at the public and private sector levels in areas such as the new economy, tourism,
renewable energy, infrastructure, and entrepreneurship. The goal is to enhance institutional
alignment, stimulate mutual investment, and expand partnership opportunities in regional and
global markets, thereby supporting the sustainable growth goals of both nations.

H.E. Bin Touq underscored the strategic and dynamic nature of the economic relationship between
the UAE and Spain, highlighting their shared vision for deepening comprehensive bilateral
cooperation. H.E. noted that the latest JEC session marks a significant milestone in the
development of economic partnership between the two countries and contributes to establishing
clear roadmaps for enhancing collaboration in future-focused sectors linked to the new economy,
such as technology, renewable energy, logistics, and industry. These efforts align with the UAE’s
strategic priorities and the objectives of the “We the UAE 2031” vision, which seeks to strengthen
the country’s position as a leading, influential global economic hub.

Economic relations between the UAE and Spain are witnessing continued growth, with non-oil
trade between the two countries reaching a record high of USD 3.3 billion in 2024, a 17 per cent
increase compared to the previous year. This reflects the dynamic nature of trade exchange and
the growing integration of their value chains. The UAE is also the largest Arab investor in Spain,