8/7/2025–|Last update: 10:43 (Mecca time)
Last Sunday, the third summit between Africa and Spain was launched in the Spanish capital, Madrid, with the participation of representatives of African governments, including Côte d’Ivoire, Togo and Somalia, along with high -ranking Spanish officials.
The summit aims to double investment opportunities and trade exchange, especially in sectors such as construction, renewable energy, water desalination, and pharmaceutical industries, and will continue until today, Tuesday, amid aspirations to expand the scope of economic cooperation between the two sides.
This initiative comes at a time when it seeks Madrid To consolidate its presence on the African continent, which currently represents about 6% of Spain’s exports and 7% of its imports.
According to statistics, the volume of trade exchange between Africa and Spain reached about 30 billion euros in the first half of 2024, bypassing the volume of exchange between Spain and Latin America.
It is prepared Nigeria The first oil supplier for Spain, while Algeria ranks second in gas supply.
Towards a balanced strategic partnership
Participants stressed the importance of converting geographical proximity into concrete economic opportunities, especially in light of the current global challenges.
For its part, Madrid seeks through this summit to enhance its institutional presence in Africa, through the network of trade rooms and vocational training projects, especially in the context of combating Irregular migration.
The summit is expected to result in new agreements that support this trend.