Spain and Qatar are strengthening economic and political ties as Emir Tamim bin Hamad Al Thani visits Madrid. The discussions were clarified at an economic forum hosted by the CEOE headquarters on Wednesday. Pedro Sánchez opened the event for a room filled with business leaders from both nations. A notable moment came when the emir announced a 4,720 million euro commitment to Spain the previous evening at a gala dinner, described as a contribution to the Spanish economy and its companies. ICEX reports a stock investment of 2,679 million euros in 2020. [Source: ICEX]
This visit marks a turning point in Qatar-Spain economic and political relations, Sánchez told several Spanish business figures including Antonio Garamendi, the CEOE president, and Ignacio Sánchez Galán, Iberdrola’s chairman. The investment strategy is led by Qatar’s sovereign wealth fund, QIA, with notable involvement from Antolín Group’s vice president Maria Helena Antolínor and Navantia’s head Ricardo Dominguez. [Source: QIA releases]
While the exact targets and timeline of these investments remain to be fully disclosed, officials describe a heavy influx tied to strategic projects funded through PERTE European funds focused on ecological and digital transformation. Garamendi added that a substantial portion—nearly a billion euros—could flow into energy, underscoring Qatar’s status as a major investor in that sector in both Spain and globally. [Source: government briefings]
Spain unveiled numerous initiatives to attract investment across sectors including a PERTE for electric and connected vehicles, advanced healthcare, renewable energy, renewable hydrogen and storage, agri-food, the new digital economy, the circular economy, naval projects, aerospace, water digitization, and semiconductors. These projects are slated for approval in the coming week. [Source: government announcements]
A Qatari business leader noted that the visit reinforces Spain’s recovery through European funds, highlighting the collaboration between Qatar and Spain in commerce, culture, industry, and arts as part of a structured dialogue established in 2021. [Source: Qatar-Spain Business Committee]
Cooperation agreements were signed to deepen ties in economy, trade, education, military and judicial cooperation, health, science, and innovation. A memorandum of understanding between QIA and Cofides aims to identify investment opportunities aligned with Spain’s bailout strategy, while Iberdrola and IPA Qatar agreed to accelerate the digitization of Qatar’s electricity sector. The Intergovernmental Joint Commission will resume operations, with a session planned before year-end. [Source: official statements]
Qatar’s 2030 Vision
On the other hand, Qatar presented its forward-looking roadmap, the Qatar National Vision 2030, emphasizing innovation and sustainable growth. The aim is to cultivate a country open to the world, with Spain positioned to participate in key sectors through companies like Acciona and Aguas de Valencia. The upcoming World Cup offers opportunities for Spanish firms in stadiums, infrastructure, and related projects. [Source: national plans]
Iberdrola’s leadership highlighted Qatar’s ongoing modernization, noting a deep transformation under Emir Tamim bin Hamad Al Thani that has created stability and a clear legal framework. This day was described as particularly important, deepening ties with long-standing bilateral relationships and shared perspectives on major global challenges. Qatar’s Trade and Industry Minister outlined favorable legislation to boost access for two-way trade and encouraged importing and exporting to Africa, reporting a bilateral trade value of 990 million in the previous year. [Source: Iberdrola leaders and Qatar ministry]
Spain’s exports to Qatar stood at 349 million euros, with a diverse mix including machinery, clothing, and mechanical appliances. Inditex, Mango, and Cortefiel were among the brands contributing to industrial sectors such as machinery, electrical equipment, foundry, and steel. The Industry, Trade and Tourism Ministry highlighted tourism’s growth potential and the numerous opportunities for international collaboration. Imports focused on fuels and LNG, totaling 641 million euros. [Source: Ministry disclosures]
Gas as a European Priority
Qatar remains a principal LNG supplier to Europe, a role underscored amid Europe’s aim to diversify away from Russian energy dependence. Although Qatar’s expansion plans are substantial, industry experts caution that full-scale deliveries will take time as Asia represents a competing priority for Qatari exports. Current capacity stands at 77 million tons, with a planned increase to 126 million tons by 2027, supported by expansion efforts in the North Field project through existing infrastructure upgrades. [Source: industry data]
Manual Alabart, Vice President of Técnicas Reunidas, noted Qatar’s advantageous position to meet Europe’s gas needs. He stressed that immediate increases are unlikely due to commitments with Asian buyers, but project analysts anticipate higher supplies in the coming years as negotiations and logistics align. [Source: company briefings]