Abdel Aziz El-Sherif, First Undersecretary and Head of the Egyptian Commercial Service, held a series of meetings in Madrid aimed at strengthening economic, trade and investment relations between Egypt and Spain, as momentum builds following recent high-level bilateral engagements.
The meetings took place during El-Sherif’s visit to Spain to attend the 7th Trade and Investment Forum of the Union for the Mediterranean (UfM). They formed part of broader efforts to deepen cooperation between the two countries and advance their strategic partnership.
El-Sherif met senior officials at Spain’s Ministry of Economy, Trade and Business, including Juan Luis Jimeno, Head of International Trade and Economic Affairs and Egypt cooperation desk, and Javier Álvarez, Deputy Assistant Minister for Africa and the Middle East. Members of the Egyptian Commercial Office in Madrid also participated in the discussions.
Talks focused on recent developments in bilateral relations and explored ways to enhance cooperation across trade and investment in line with the strategic partnership framework. El-Sherif highlighted Spain’s position as one of Egypt’s key trading partners within the European Union, noting that relations have gained renewed momentum in recent months.
He pointed to the Spanish King’s visit to Egypt last September and the accompanying Egyptian–Spanish Business Forum as a major milestone, which followed President Abdel Fattah El-Sisi’s visit to Spain and underscored the growing depth of bilateral ties.
The discussions also addressed the importance of convening the first session of the Economic Dialogue established under the Memorandum of Understanding signed during the presidential visit, alongside the inaugural meeting of the reconstituted Egyptian–Spanish Business Council. Both sides agreed on the value of organising a comprehensive event combining the economic dialogue with a business forum during the first half of 2026.
El-Sherif highlighted strong progress in trade indicators in recent years, noting that Egyptian exports to Spain reached around €1.68bn in 2024, including €1.47bn in non-oil exports. This performance, he said, reflects the growing diversification and competitiveness of Egypt’s export base. Egypt also recorded a trade surplus of approximately €225m with Spain during the year.
Key Egyptian exports to the Spanish market include iron and steel, mineral fuels and oils, fertilisers, plastics, as well as a range of fruits and vegetables.
Building on this positive trade performance, El-Sherif stressed Egypt’s intention to elevate investment relations, noting that Spanish investments in Egypt remain below their potential at around €1bn. He invited Spanish companies to expand their presence and launch new projects in Egypt, citing attractive opportunities, competitive incentives and Egypt’s role as a regional production and export hub.
The visit concluded with a meeting with Marta Blanco, President of CEOE International, the international arm of the Spanish Confederation of Business Organisations. Discussions focused on Spanish participation in the planned economic dialogue and business forum. Blanco expressed strong interest among Spanish companies in expanding operations in Egypt, reaffirming Egypt’s importance as a strategic economic and trade partner for Spain.
