Chinese President Xi Jinping met with Spain’s King Felipe VI in Beijing, offering a vision of cooperation that would enhance both countries’ economic security and global influence. This visit marks the first state trip to China by a Spanish monarch in 18 years and reflects Spain’s role in the EU as it seeks increased investments from China amidst changing political dynamics following the Trump administration’s criticisms of European NATO contributions.
China aims to overcome trade tensions with the EU, particularly regarding its subsidized electric vehicle industry. Additionally, the U. S. continues to impact Beijing’s economy, prompting Chinese businesses to explore new markets, including regions where Spain has strong ties. Xi emphasized the need for constructive global cooperation, proposing a comprehensive partnership with Spain and the possibility of joint ventures in markets such as Latin America.
Spain has been active in expanding its diplomatic reach within the EU while fostering closer relations with China. However, this approach carries political risks due to the EU’s cautious stance toward Beijing amid concerns over its actions in international affairs. King Felipe highlighted the historical friendship between Spain and China, noting it benefits both nations. He described the relationship as one of trust.
Following their meeting, Xi and Felipe oversaw the signing of ten agreements spanning various sectors, such as food safety and space cooperation. In a separate meeting, Chinese Premier Li Qiang expressed support for increased investments from Chinese firms in Spain, specifically in renewable energy sectors.
Spain, as a key EU pork exporter, has faced challenges due to high tariffs on its products imposed by China in response to EU actions regarding Chinese electric vehicles. The Spanish government, led by Prime Minister Pedro Sanchez, has since advocated for the removal of these tariffs while promoting Spain as an investment destination for China. In terms of trade, Spain imports significantly from China but exports much less, with efforts underway to resume investment talks between the EU and China that were halted in 2021.
With information from Reuters