Spain expects 8th intergovernmental summit with Türkiye to be 'very successful'

Spain expects the 8th intergovernmental summit with Türkiye scheduled for Thursday to significantly strengthen relations and be "very successful," said a source with the Spanish Prime Ministry.

The source underlined that the summit, chaired by Turkish President Recep Tayyip Erdoğan and Spanish Prime Minister Pedro Sanchez, will elevate political, diplomatic and economic ties to the highest level.

The source said the two countries have "very important and solid bilateral" relations.

"Spain holds this type of high-level intergovernmental summit with a limited number of countries, and Türkiye is one of them. Six ministers from Türkiye and eight ministers from Spain will participate in the summit. Additionally, more than 150 businesspeople will accompany President Erdoğan. Spain will witness such a comprehensive bilateral summit for the first time in a very long time. We expect a very successful summit," he said.

"Türkiye is a strategic actor in its region, conducting intense diplomacy to stop the Ukraine-Russia war and Israel's attacks in Gaza."

Spain's recognition of the Palestinian state is highly valued in Türkiye and other regional countries, the source said. "Therefore, we attach great importance to regional and international collaborations."

Following the summit, 13 bilateral agreements or memorandums are expected to be signed between ministries and state institutions. These include four commercial agreements, two related to energy and the environment, and two on scientific cooperation and others covering work, culture, sports, maritime transportation and social services.

The source emphasized that a joint declaration would be made to sustain and deepen the "comprehensive partnership" decision from the last summit in 2021, noting that "concrete results will be achieved in both political and economic fields."

NEW TRADE TARGETS

The source added that the summit will also feature a business forum aimed at strengthening bilateral relations and opening new doors.

The forum, to be held at BBVA's headquarters, will see participation from representatives of around 150 Turkish companies, the source said, adding "this is an incredible number."

"At the forum where President Erdoğan and Prime Minister Sanchez will deliver the opening speeches, there will be bilateral and joint meetings in many different sectors. Additionally, there will be a separate special meeting related to the defense and security industry," he said.

Currently, the bilateral trade volume between the two countries is around €18 billion, the source noted, adding the target of €20 billion set in 2021 is close to being achieved.

"The new target for the bilateral trade volume here will be raised to €25 billion. Both countries are aware that there is still a very large capacity to develop economic and commercial relations. We are fully confident that this forum will yield concrete results in the short and medium term."