Spain and Iceland Strengthen Ties Through Sustainable Economy Collaboration

Spanish and Icelandic companies convened at the Spain-Iceland Business Meeting in Madrid on December 2, 2025, to explore opportunities for collaboration and investment focusing on the green and blue economies and the transition to clean energy. This gathering coincided with the inauguration of the new Icelandic embassy in Spain, underscoring the strengthening bilateral relations.

Iceland's Foreign Minister, Þorgerður Katrín Gunnarsdóttir, emphasized the potential for mutual learning and joint innovation in sustainable ocean resource management, particularly highlighting sustainable fishing as a cornerstone of Iceland's economy. She remarked, "Through innovation, entrepreneurs have developed solutions to better utilize cod, reduce waste, and create high-value products. If we partner with Spanish companies and research institutions, we can explore new value chains together."

Spanish expertise in maritime industries, shipbuilding, infrastructure, and renewable energy positions the country as an attractive partner for Iceland. Juan Luis Gimeno, Director General of Economic Intelligence and Trade, praised the opening of Iceland's embassy and noted the substantial opportunities for Spanish businesses to contribute to Iceland’s sustainable sectors. Iceland's exports surged from €7.4 billion in 2014 to €13.3 billion in 2024, with tourism—especially from Spain—playing a significant role. Spain ranks as Iceland’s seventh most important trading partner, highlighting the growing economic link.

Representatives from both nations' businesses and trade organizations stressed the strategic importance of this alliance to maintain competitiveness amid global uncertainties and to foster sustainable growth through shared values and sectors. The event featured discussions on fostering synergies and developing sustainable blue and green economy initiatives that benefit both countries.