China Spain Photo: VCG

Spain does not view China as "a threat or an adversary," and as the fourth largest EU country, Spain values a positive relationship with China and aims to work constructively together to tackle global challenges, an expert from a Spanish think tank told the Global Times in an exclusive interview on Monday.

Amid rising uncertainties in the world, European countries have adopted varied approaches to their relationship with China, said Miguel Otero-Iglesias, a senior analyst at the Madrid-based Elcano Royal Institute and Professor at IE School of Global and Public Affairs. 

Unlike some countries that are becoming more "protectionist," Spain has focused on maintaining and deepening ties with China, he said.

Spanish Prime Minister Pedro Sanchez is currently on a four-day visit in China. Economic and trade ties are among the most anticipated highlights of the bilateral talks.

Otero underscored the close relationship between China and Spain. Over the years, Huawei has established a notable presence in Spain, and the influx of Chinese tourists has surged. Recent agreements have helped propel Spanish exports to China, such as enabling the sale of Spanish ham.

"The PM's visit will primarily center on economic issues, particularly trade and investment," Otero said. 

Spain aims to boost exports to China, including food and services like digital and financial services, and discuss the potential to engage in more infrastructure cooperation, while also being interested in attracting Chinese investors to establish manufacturing plants in Spain.

China continues to push for wider opening-up, so immense opportunities may arise for Spanish and European companies in various sectors, such as in medical equipment, food products, digital services, financial services, and more, Otero said.

China-Spain Business Forum was held on Tuesday, attracting over 700 Chinese and Spanish entrepreneurs, who are from industries including energy, logistics, finance, trade, machinery, and aerospace, China Media Group reported.

Speaking of the closely watched new energy sector, Otero pointed to China's substantial progress in green technology. "China has become highly competitive in green industries such as EVs, solar panels, and wind turbines," he said.

Despite recent tariff friction between the EU and China over importing Chinese electric vehicles to Europe, there remains vast potential for bilateral cooperation, he said.

"It's crucial to recognize that Europe's green transition will need Chinese products, technology and investment to progress effectively. Chinese green investments could support the EU's sustainable development, create local jobs, which benefit European consumers," Otero said.

Otero said that both Europe and China need each other in the current context, and their mutual interests will drive their cooperation. He called on both sides to manage risks, engage in dialogue, and foster mutual market openness, rather than resorting to protectionist measures.

China has recognized the need to further open its market to overseas investors, and Europeans want to avoid a trade war with China and distance themselves from the US' confrontational approach, Otero noted.

Spain is playing a crucial role in promoting Europe-China relations. Over the past 50 years, it has embraced foreign investment and free trade. "Unlike some other nations that are becoming more protectionist, Spain views China as a partner rather than a systemic rival," said Otero.

According to data from China's Ministry of Commerce, China is Spain's largest trading partner outside the euro zone. Their trade reached $48.6 billion last year.

Otero noted that the high-level visit by Prime Minister Pedro Sanchez will help deepen cooperation, not only on resolving economic issues but also on handling global concerns.

"Spain believes in working constructively with China and sees this partnership as essential for addressing global challenges," Otero said.