Spain and Qatar strengthen economic ties with European funds as a backdrop

Spain and Qatar is tightening economic and political relations With Emir Tamim bin Hamad Al Thani’s visit to Madrid. And that was clarified at an economic forum held at CEOE headquarters on Wednesday. praise The opening of the event was made by the President of the Government Pedro Sánchez to the addressees of the businessmen of the two countries. a great gesture of trust 4,720 million euros investment in Spain announced by the emir at the gala dinner the previous day, “for the Spanish economy and companies”. According to ICEX, the investment in ‘stock’ in 2020 was 2,679 million euros.

“This visit is a before and after in economic and political relations Between Qatar and Spain,” Sánchez assured in front of several other Spanish businessmen, such as Antonio Garamendi, CEOE president, and Ignacio Sánchez Galán, Iberdrola’s president. the largest shareholder is the Qatar sovereign wealth fund QIA; vice president of the Antolín group, Maria Helena Antolinor the head of Navantia, Ricardo Dominguez.

in the absence of knowing investment target Doha and temporary period Enforcement sources say that this rain of millions for which this money will be used linked to strategic projects Born in (PERTE) european fundswith central axes ecological and digital transformation. And Garamendi confirmed that one of the sectors that almost “billion pesetas” will go to will be energy, not for nothing Qatar is one of the main investors in this sector, as in Spain. monetary.

Spain designed dozens of great projects to encourage investments in different areas such as PERTE for the development of electric and connected vehicles; avant-garde health; renewable energies, renewable hydrogen and storage; agriculture-food; that of the new language economy; that of the circular economy; Navy; Another for aerospace, the digitization of water, and semiconductors and microchips, Sánchez announced, will be approved next week.

“This visit gives us Strengthening the Spanish economy through european funds recovery,” added the Qatari businessman Sheikh Khalid bin Thani Al Thaniconsultant at Prisa and co-chairman with Ignacio Sanchez Galán Qatar-Spain Business CommitteeAn alliance formed in 2021 promoting “dialogue” between companies in the field ofculture, art, economy or industry”, as stated by Qatar.

On the day of signing several cooperation agreements in the fields of economy, trade, education, military and judicial cooperation, health, science and innovation. A memorandum of understanding (MoU) between them Qatar sovereign wealth fund QIA and Cofides to “identify investment opportunities compatible with the Spanish bailout plan”, as well as an agreement between Iberdrola and Qatar Investment Promotion Agency (IPA Qatar) “To advance the digitization of Qatar’s electricity sector. In addition, Industry, Trade and Tourism Minister Reyes Maroto announced that the Intergovernmental Joint Commission will be operational again and a session will be held before the end of the year.

Qatar’s vision for 2030

In the opposite direction, Qatar brought forward its new roadmap. Qatar National Vision 2030, with a greater commitment to innovation and sustainable growth. “Train a country open to the world and Spain can and would like to participate,” he said. Pedro Sanchez, to contribute to the development of the country key sectors already exist through companies such as Acciona or Aguas de Valencia. Sánchez even highlighted the opportunity that next year’s World Cup represents and that Spanish companies can participate in construction. infrastructures.

The president of Iberdrola also defended Doha Delegation, The “deep” transformation by Emir Tamim bin Hamad Al Zani that has made the country “deep”stability and legal certainty modelGalán assured her that this was a “particularly important” day for him and that he had the opportunity to “strengthen ties” with a country with which he had “been in a personal relationship for twenty years” and “shared”. same understanding of major global challenges”. For his part, the Minister of Trade and Industry of Qatar, Sheikh Mohammed bin Hamad bin Qassim Al-Abdullah Al-ThaniQatar’sadvantageous legislation to be access door He advocated the promotion of “importing and exporting to Africa”. two way trade between the two countries with a value of 990 million last year.

As far as Spain’s exports to Qatar are concerned, they were valued at 349 million euros, highly diversified in machinery and mechanical appliances and clothing. Inditex, Mango and CortefielMechanical products, electrical appliances and foundry and steel manufacturing, as announced by the Minister of Industry, Trade and Tourism, Kings Marotowho noticed this tourism area “There are also many opportunities to foster international cooperation.” While imports mainly focus on fuels, liquefied natural gas (LNG), with a total value of 641 million Euros.

gas supplier to Europe

Qatar is one of the main producers and exporters of liquefied natural gas (LNG) to Europe and it is in urgent need of it. diversify the supply The European Union’s renunciation of dependence on Russia could play a key role; Although it is an Arab country process of full expansion of production capacity. It currently has a gas capacity of 77 million tons and plans to increase it to 126 million tons in 2027 with the help of a Spanish company. collected techniquesPart of this expansion megaproject, known as North Field, through a contract to expand existing infrastructure.

Vice President of Técnicas Reunidas, Manual AlabartAcknowledging that Qatar is currently in a “privileged” position to “meet Europe’s gas needs”, he adds that this will not happen in the short term. “Maybe (Qatar) need time because of their commitment Asian customers. “It is clear that further supplies to Europe will not happen immediately, but it is very likely that gas exports will increase in the coming years,” he said.

Source: Informacion

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