India and Spain agreed to cooperate in digital infra, climate action, clean energy

Tags: International Relations International News

Prime Minister Narendra Modi and his Spanish counterpart Pedro Sanchez on February 15 agreed to collaborate on issues such as digital infrastructure, climate action, clean energy and sustainable development. 

An overview of the news

• They also discussed several bilateral and international issues of mutual interest.

• They reviewed bilateral initiatives and expressed satisfaction at the growing cooperation in the defence, economic and commercial sectors.

• Sanchez extended full support to India's initiative of chairing the global bloc G20.

India-Spain Relations

• Relations between the two countries have been cordial since the establishment of diplomatic relations in 1956.

• To give impetus to trade and investment ties, the India-Spain Joint Commission on Economic Cooperation (JCEC) was established in 1972.

• The commission was established under the Trade and Economic Cooperation Agreement and has met ten times since then.

• Spain is India's 7th largest trading partner in the European Union.

• India's exports to Spain include organic chemicals, textiles, iron and steel products, motor vehicle components, marine products and leather goods.

• Spain is the 15th largest investor in India. 

Bilateral Agreements between India and Spain

• Agreement on Trade and Economic Cooperation, 1972

• Agreement on Cultural Cooperation, 1982

• Civil Aviation Agreement, 1986

• Double Taxation Avoidance Agreement, 1993

• Bilateral Investment Protection and Promotion Agreement, 1997

• Extradition Treaty, 2002

• MoU on Institutionalisation of Political Dialogue, 2006