Ambassador Korchagin’s speech began with a retrospective on bilateral relations between Russia and Spain, which “have traditionally been characterized by sympathy and, most importantly, mutual respect, curiosity, and friendship.” These relations date back five centuries, when diplomatic correspondence between the two countries first began, and today they are built on a solid legal foundation, with more than thirty agreements in place.

Korchagin also highlighted the importance of cultural ties between Spain and Russia, which are fostered through the twinning of Russian and Spanish cities and cultural exchanges, such as the opening of the Russian Science and Culture Center in Madrid in 2011 and the branch of the Russian Museum of Saint Petersburg in Málaga.

Regarding bilateral trade relations, despite the economic impact of COVID-19, mutual investments continue to develop, with an estimated trade exchange of five billion dollars. However, he acknowledged that “Spanish entrepreneurs are still somewhat hesitant to invest in Russia” compared to other European countries like Germany and Italy. As an example of the fluidity of trade relations, the ambassador recalled that on February 26, the Strategy for the Development of Spain-Russia Relations in Economy and Investment was signed during the 10th session of the Russian-Spanish Intergovernmental Mixed Commission for Economic and Industrial Cooperation.

In the area of industrial cooperation, the ambassador mentioned the success of Spanish factories operating in Russia. He also emphasized the role of Spanish construction companies’ international expertise and advanced technologies in infrastructure modernization projects, as well as the importance of Russia’s energy industry for Spain. In this regard, he noted that the contract between Novatek and the Spanish distributor Naturgy, which remains in force until 2041, supplies Spain with 8% of its annual gas consumption.

Korchagin made special mention of the activities of the Russia-Spain Business Council, which resumed in 2016 under the co-presidency of Leonid Mikhelson, president of the gas company Novatek, and Juan Lladó, president of Técnicas Reunidas. According to the ambassador, these activities “sparked great interest among business circles in other countries.”

Tourism, in the ambassador’s view, represents the third pillar of bilateral relations between Russia and Spain. Within the legal framework of the 2006 Intergovernmental Agreement on Spanish-Russian Cooperation in Tourism, the sector is expected to regain its pre-pandemic momentum, when over one million Russians traveled to Spain and more than 120,000 Spaniards visited Russia. This, as Ambassador Yuri Korchagin affirmed, demonstrates that “political affairs should not hinder economic and trade relations.”

Sofía Alfayate
Communication Assistant, INCIPE