Commerce Secretary, Shri Sunil Barthwal, and Ms. Xiana Mendez, Secretary of State for Trade, Government of Spain co-chaired the 12th Session of India-Spain Joint Commission for Economic Cooperation (JCEC) on 13th April, 2023 in New Delhi. Both sides celebrated this Golden Jubilee edition of India-Spain Joint Commission mechanism which was established in 1972. During the past 50 years, a remarkable enhancement of bilateral trade and investment has taken place. With an investment of USD 3.7 Bn, 250 Spanish Companies are active in India and 40 Indian Companies are present in Spain working in different sectors such as IT, Pharma, Renewable Energy, Automobiles, Infrastructure etc.

Ms. Xiana emphasised  the importance of India-Spain relationship and the Spanish partnership in India’s development stories. Spanish side has reaffirmed the further cooperation in the various sectors including in the field of Civil Aviation such as Automation, Surveillance and NavAids, High Speed Railways, Railways networking, Signalling, Traffic management etc.

Both sides also agreed for further cooperation in the field of Renewable Energy, Shipping, Ports, Tourism, Infrastructure, Food Processing, Pharmaceuticals, Technology, Innovation, and Defence sector.

The status of various MOUs were also reviewed including those of important interest for bilateral relations such as MOUs on Migration and Mobility, Agreement on Social Security, Cyber Security etc.

Both sides also discussed various Market Access Issues faced by their exporters and agreed to resolve the same through bilateral discussions.

India and Spain are looking forward to a considerable progress in the ongoing India-EU FTA Negotiations during the upcoming Spanish Presidency of EU from July to December, 2023.

The Spanish side congratulated India on the excellent progress of the Indian presidency of the G20 so far and offered its support and cooperation for the success of G-20 TIWG.

Economic cooperation agreements expand sectoral collaboration and commit to resolving market access issues through bilateral consultations. The co chairs emphasised enhanced bilateral economic engagement and identified priority sectors for cooperation-notably Renewable Energy, Civil Aviation (automation, surveillance, NavAids), High Speed Rail, Shipping and Ports, Infrastructure, Pharmaceuticals, Technology, Innovation, and Defence. They reviewed legal instruments including MOUs on Migration and Mobility, an Agreement on Social Security, and Cyber Security cooperation, and agreed to resolve exporters' Market Access Issues through bilateral discussions, while seeking progress on India EU Free Trade Agreement negotiations during the upcoming Spanish EU Presidency.