The President of the Government of Spain, Mariano Rajoy, will make an official visit to Brazil on April 24 and 25. On the 24th, he will hold a working meeting with President Michel Temer, in Brasilia. On the same day, in Sao Paulo, Presient Rajoy will attend the closing ceremony of the I Brazil-Spain Forum with representatives of the government, business sector and civil society of both countries. On the following day, Rajoy will open the Brazil-Spain Business Meeting, aimed at attracting new investments to Brazil, with a focus on mid-sized companies.
The visit of President Rajoy confirms the mutual interest in mantaining the dynamism of the economic relationship between the two countries. The high-level meeting is also an opportunity to ratify the commitment of both parties to contribute to the advancement of negotiations between Mercosur and the European Union.
Spain is the second largest investor in Brazil today, with investments totaling US$ 64 billion in 2016. If the investments/GDP ratio is taken into account, Spain is the main investor amongst the great global economies, with the equivalent to 7% of its GDP invested in Brazil. Brazil, for its part, is the third largest destination of Spanish direct investments in the world. Bilateral trade flows are also significant and have reached US$ 5.2 billion in 2016.