Türkiye and Spain: A Flourishing Partnership Built on Mutual Trust and Economic Cooperation
Strong Diplomatic Foundation
The relationship between Türkiye and Spain, which began with the ‘Treaty of Peace, Friendship and Commerce’ in 1782, has evolved into a multifaceted partnership characterized by mutual respect, shared strategic interests, and expanding areas of cooperation.
Current State of Relations
The Türkiye-Spain relationship is underpinned by strong economic links, with Türkiye currently serving as Spain’s third-largest trading partner after the United States and Mexico (excluding EU member states). Unlike Türkiye’s relations with some other European powers, there are no significant areas of friction between Ankara and Madrid, allowing for consistent, constructive engagement focused on shared interests.
Economic Cooperation
Both nations have set an ambitious goal to reach €25 billion per year in trade exchanges within the next five years. Spain holds a significant position as Türkiye’s fourth-largest trading partner in the EU, while Türkiye remains a preferential destination for Spanish investment. Currently, more than 700 Spanish companies operate in Türkiye.
Strategic Partnership
The two countries share a significant legacy as founders of the Alliance of Civilisations, a UN initiative established over 20 years ago to combat prejudice and polarisation through cooperation, inequality reduction, and cultural dialogue. Recent developments include a Business Forum that brought together representatives from both countries’ business communities, focusing on strengthening synergies and alliances, particularly in infrastructure, green transition, and digital transformation.
Future Prospects
President Erdoğan has expressed a strong commitment to further enhance economic and commercial relations with Spain based on mutual benefit. Despite global risks, both nations aim to develop their economic and trade relations further. Türkiye’s strategic geographic position, allowing access to 1.3 billion people within a few hours’ flight from Istanbul, presents opportunities for reimagining trade and investment partnerships with an innovative perspective.
