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Following the meeting, the Russian Federation and the Kingdom of Spain signed a Strategy for the Development of Bilateral Relations in the Field of Economy and Investment for the Long Term.

10th meeting of the Intergovernmental Mixed Russian-Spanish Commission on Economic and Industrial Cooperation

Under the co-chairmanship of Deputy Prime Minister of the Russian Federation Alexander Novak and Minister of Industry, Trade and Tourism of the Kingdom of Spain Maria Reyes Maroto, the tenth meeting of the Intergovernmental Mixed Russian-Spanish Commission on Economic and Industrial Cooperation was held.

The plenary session of the commission was attended by representatives of the federal executive bodies of the two countries, regional administrations, state corporations, as well as business circles in various spheres of the economy of both countries.

The meeting participants emphasized that Russia and Spain, despite the difficult situation in the global economic markets, remain strategic partners in the European space. “The meeting is of particular importance for our traditionally friendly relations. Spain is an important partner of Russia, Moscow and Madrid demonstrate a high level of mutual understanding on key issues, ”said Alexander Novak.

The meeting participants also emphasized that the commission is an effective tool for enhancing the entire range of bilateral relations.

During the meeting, the parties exchanged information on the economic situation in Russia and Spain, as well as on trends in the development of bilateral trade and economic relations. As the Deputy Prime Minister noted, the pandemic had a significant impact on the dynamics of trade between the countries, which decreased by 19% by the end of 2020 to $ 4.7 billion. “This can and should be corrected, we count on the growth of trade turnover, mutual investments, and the continuation of the implementation of joint projects. We have prepared a list of priority product groups for which it is possible to significantly increase exports from Russia, ”added Alexander Novak.

The co-chairs noted the presence of significant potential for the further development of mutually beneficial cooperation between the two countries in such areas as transport, tourism, mechanical engineering, space, energy, food industry, aviation and cooperation in the field of small and medium-sized businesses. “Russia is ready to cooperate with Spanish partners in the fight against coronavirus – in conducting joint research, exchange of experience, as well as cooperation in the field of vaccine production. In addition, we see good prospects in the field of tax administration. We are ready to offer our Spanish colleagues technical assistance in the exchange of experience with the Federal Tax Service. Europe’s trend towards decarbonization of the EU economy creates additional opportunities for Russia and Spain to create innovative technological solutions. In the foreground is hydrogen energy, according to which we propose to consider future export supplies of hydrogen from Russia to Spain. The Russian-Spanish agreement on the mutual recognition of education, qualifications and academic degrees is almost ready and may be signed in the near future, the Spanish side has been sent for consideration an updated draft bilateral agreement on social security, which will ensure the preservation of the acquired pension rights of citizens of Russia and Spain for working on their territory. Work is also underway on a draft agreement on the mutual recognition and exchange of national identity documents, the signing of which is awaiting many Russian compatriots living in Spain, ”the Deputy Prime Minister said.

In addition, Alexander Novak invited the Spanish side to take part in the international industrial exhibition “Innoprom” on July 6-9, 2021 in Yekaterinburg, the international specialized exhibition on civil shipbuilding “Neva 2021″ on September 21-24, 2021 in St. Petersburg and the international forum ” Russian Energy Week ”October 13-16, 2021.

As a result of the event, the co-chairs signed the Protocol of the 10th meeting of the Intergovernmental Mixed Russian-Spanish Commission for Economic and Industrial Cooperation, as well as the Strategy for the Development of Bilateral Relations in the Field of Economy and Investment for the Long Term.

EDITOR’S NOTE: This article is a translation. Apologies should the grammar and or sentence structure not be perfect.

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