The First Vice President and Minister of Economy, Trade and Business, Carlos Cuerpo, has defended the need to strengthen alliances between "medium powers" with similar economic weight, such as Mexico and Spain, in a scenario marked by international geopolitical uncertainty.
"We need each other. We have to ally ourselves more than ever in the new context to be able to survive together," the First Vice President stated at the Spain-Mexico business meeting, held on the occasion of his official visit to the country.
Cuerpo has underlined that there are currently "excellent investment figures" and a high degree of mutual trust, something reflected in the 70 billion 'stock' of investment by Spanish companies in Mexico and their long-term commitment to this market.
"We are talking about leading Spanish companies at a global level that are betting on Mexico in the field of energy, in the field of infrastructure, in the field of digitalization...", highlighted the head of Economy, alluding to the presence of large groups in strategic sectors.
On the institutional level, the vice president has pointed out that progress is also being made on a roadmap to deepen the bilateral relationship. "It is very important to have reliable partners," Cuerpo indicated in a dialogue with the Secretary of State for Economy of Mexico, Marcelo Ebrard, insisting on the relevance of having stable allies.
Given the volatility of the international context, Cuerpo has once again defended the construction of lasting ties and long-term bilateral alliances. "We have to understand that medium powers, we could say, with a similar economic size, like Mexico and Spain, the countries of the European Union, Canada, others, we need each other. We have to ally ourselves more than ever to be able to survive together," he reiterated.
Cuerpo's Agenda in Mexico
After the business forum, Cuerpo will meet with President Sheinbaum to address the priorities of the shared economic agenda and the areas with the greatest potential for cooperation, including energy transition, infrastructure, financial services, and the digital economy. Likewise, he is scheduled to hold meetings with the Secretaries of Finance and Public Credit and of Energy.
Tomorrow, Wednesday, the first vice president will hold meetings with investors and executives from large Mexican corporations interested in the Spanish market. The day will conclude with an entrepreneurship 'roadshow' aimed at facilitating the establishment of Spanish startups in the Mexican innovative ecosystem.
Economic relationship between Spain and Mexico
Spain remains the second largest investing country in Mexico, only behind the United States, with around 6,000 companies of Spanish capital operating in key sectors —from financial services and energy to infrastructure, tourism, technology, and manufacturing— which support around half a million jobs.
Mexico is, moreover, the main destination for Spanish exports in Latin America, with more than 10,300 Spanish companies selling their products and services in this market. In turn, Mexico has consolidated itself as the largest Latin American investor in Spain, with nearly 700 companies generating around 55,000 jobs and an investment stock close to 35,000 million euros, more than half of the capital coming from Latin America as a whole.
Bilateral trade in goods and services has grown by more than 44% since the pandemic, reaching almost 17,000 million euros in 2025, despite the successive 'shocks' that the global economy has suffered in recent years.