Spain and France deepen business ties with new investment and technology cooperation
A high-level business forum in Madrid brought together nearly 400 participants as both countries moved to strengthen trade, investment and cooperation in strategic sectors including AI, energy, defence and advanced industry.
Spain and France are seeking to deepen their economic and business relationship through new cooperation in trade, investment and strategic technologies, as companies and institutions from both countries met in Madrid for the Spain-France Trade and Investment Forum.
The event, held during French President Emmanuel Macron’s state visit to Spain, brought together nearly 400 participants from both countries and focused on opportunities for collaboration in sectors considered central to Europe’s industrial and technological competitiveness.
The forum was inaugurated by King Felipe VI of Spain and Macron and was organised by Spain’s Secretariat of State for Trade through ICEX, the Spanish Chamber of Commerce, CEOE, MEDEF and Business France, with the support of the French government.
Discussions centred on how Spain and France can strengthen bilateral business ties while contributing to greater European strategic autonomy.
A €130 billion bilateral relationship
Spain and France already maintain one of the strongest economic relationships within the European Union.
Trade in goods and services between the two countries exceeds €130 billion, representing an increase of around 26% over the past seven years.
France is Spain’s largest export market, while Spain ranks among France’s five main trading partners.
Bilateral investment stocks exceed €100 billion in both directions, with more than 800 Spanish companies operating in France and close to 3,000 French companies established in Spain.
The forum aimed to expand these flows and encourage new corporate partnerships, particularly in sectors linked to Europe’s technological and industrial transformation.
AI, energy, defence and critical technologies
Participants focused on two broad challenges facing the European economy: scaling up critical and emerging technologies developed in Europe and accelerating the industrial and energy transformation needed to boost productivity and innovation.
Key sectors discussed included aerospace, agrifood, automotive and mobility, defence, energy and advanced manufacturing.
The agenda also covered strategic technologies such as artificial intelligence, quantum computing, semiconductors and cybersecurity.
Macron highlighted potential areas for deeper cooperation between Spain and France, including space, defence and dual-use industries, arguing that these sectors will be important to strengthening Europe’s strategic autonomy.
Business representatives also held bilateral meetings aimed at identifying concrete commercial opportunities, investment projects and potential partnerships.
ICEX and Business France sign cooperation agreement
One of the main outcomes of the forum was the signing of a Memorandum of Understanding between ICEX and Business France.
The agreement is intended to strengthen cooperation between the two countries’ internationalisation agencies and facilitate greater bilateral trade and investment.
It includes measures to support companies seeking to enter each other’s markets, promote direct investment and identify joint projects in sectors considered strategic for European competitiveness and industrial sovereignty.
Energy, mobility and critical technologies are among the areas identified for greater cooperation.
The agreement also opens the possibility of joint promotional activities in third-country markets, allowing Spanish and French companies to explore business opportunities beyond their respective domestic markets.
European competitiveness in focus
Speaking at the forum, Spanish Economy Minister Carlos Cuerpo argued that Spain and France share a vision of a European Union capable of strengthening its industrial base and leading the development of future technologies.
King Felipe VI also stressed the importance of reliable partnerships at a time of growing global uncertainty, pointing to the role of Spain and France in promoting a more integrated European economy that remains open to trade and investment.
The Madrid meeting reflects a broader push across Europe to reinforce industrial capacity, reduce strategic dependencies and mobilise greater private investment into sectors viewed as essential to long-term competitiveness.
For Spain and France, the combination of a large existing trade relationship and growing cooperation in areas such as AI, energy and advanced industry could provide a platform for deeper business integration in the coming years.
