Spain Plans 100 Billion Euro Investment in Mexico, Aims to Double Trade by 2030

Spain is making a massive bet on Mexico. The country plans to invest 100 billion euros in the Mexican economy and aims to double bilateral trade by 2030, signaling deepening ties between Europe and Latin America's second-largest economy.

Spanish Vice President and Economy Minister Carlos Cuerpo delivered the message during a two-day visit to Mexico City, meeting with President Claudia Sheinbaum at the National Palace and Economy Secretary Marcelo Ebrard. The visit came one day after the two leaders had to meet virtually due to teacher protests that blocked roads in the capital, underscoring how local disruptions can affect high-level international diplomacy.

"I bring a message of confidence from companies of both countries," Cuerpo told reporters in Mexico City before his meeting with Sheinbaum. He cited the 100 billion euro investment figure and "growth prospects" as reasons for optimism about the bilateral economic relationship going forward.

Cuerpo's visit is the first by a European Union member state official to Mexico since the signing of the Modernized Global Agreement between the EU and Mexico on May 22. The deal liberalizes more than 85 percent of tariff lines, leaves 99 percent of traded goods tariff-free and strengthens the investment protection framework for both sides. The agreement is seen as a major step forward in EU-Mexico relations and opens significant new opportunities for trade and investment between the two regions.

"Spain wants to be at the forefront to take advantage of this new framework," Cuerpo said, positioning his country as a bridge between Europe and Mexico under the updated trade terms. Spain sees itself as uniquely placed to benefit given its existing deep economic ties with Mexico and its role as one of the EU's largest economies with strong Latin American connections.

The numbers behind the relationship are already significant. Spain is the second-largest investor in Mexico, behind only the United States. Around 6,000 Spanish capital companies operate in key sectors of the Mexican economy including banking, energy, infrastructure, retail and manufacturing. These companies support about half a million Mexican jobs across the country. Mexico, in turn, is the top destination for Spanish exports in Latin America, with more than 10,300 Spanish companies exporting to the country.

The relationship runs both ways in a substantial way. Mexico has become the largest Latin American investor in Spain, with nearly 700 Mexican companies operating there, generating around 55,000 jobs. Mexico's accumulated investment stock in Spain stands at approximately 35 billion euros, more than half of all Latin American investment in the entire country.

Cuerpo participated in the Mexico-Spain Business Meeting alongside Ebrard, where the two committed to working toward the goal of doubling trade volumes by 2030. Sectors likely to benefit include automotive, aerospace, renewable energy, technology and financial services. Both sides see significant room for growth in the relationship and the new EU trade agreement provides the legal framework to make it happen.

For Mexico, the investment comes at a strategic time. The country is positioning itself as a key destination for nearshoring as global supply chains shift away from Asia. The new EU-Mexico trade agreement provides certainty for European companies looking to invest in Mexico as a production and export hub. Mexico offers access to the US market through the USMCA, a young and growing workforce and expanding domestic consumption. Spain has long been a major economic partner for Mexico and the new investment push signals that relationship is about to get substantially deeper. With 100 billion euros on the table and a target to double trade by 2030, the Spain-Mexico economic partnership is entering a new and more ambitious phase.