Spain and China have today signed three Memoranda of Understanding (MoU) aimed at strengthening bilateral economic cooperation, increasing the presence of Spanish products and services in the Chinese market, and promoting sustainable and high value-added investments. The agreements were formalized during the official visit of the President of the Government, Pedro Sánchez, to the People’s Republic of China.
The memoranda, signed by the Secretary of State for Trade of the Ministry of Economy, Trade, and Business with Chinese economic authorities, seek to move towards a more balanced, open economic relationship focused on generating value and employment in both countries.
The three signed agreements
- Cooperation in supply chains and sustainable investments Signed between the Ministries of Commerce of both countries, it establishes a framework to promote business partnerships, joint projects between SMEs and large companies, decarbonization initiatives, technology transfer, and better integration of companies into the productive ecosystems of Spain and China.
- Exchange on economic development policies Agreed with the National Development and Reform Commission of China, it creates a cooperation mechanism in strategic planning, macroeconomics, and development policies. It includes the organization of seminars, technical activities, and periodic consultations to share best practices.
- Boosting Spanish exports to China The third memorandum, also with the Chinese Ministry of Commerce, reinforces the initiative “Sharing the Grand Market. Exporting to China.” Its aim is to improve access to the Chinese market, identify priority sectors with export potential, and organize business missions, promotional activities, and joint participation in fairs and trade platforms.
The Ministry of Economy has highlighted that these agreements “reinforce the shared commitment to advance towards a more balanced, open, and rules-based economic relationship, strengthening capacity creation and generating new opportunities for companies in both countries.”
These three new memoranda add to the agreements previously signed during the visit in the areas of diplomacy, agri-food, and technology, and are part of the Spanish strategy to deepen the Comprehensive Strategic Partnership with China, diversify markets, and attract quality foreign investment.
