Madrid – A modern perform visa waiver for UK service professionals travelling to Spain for under 90 days is among the key outcomes of a strengthened economic partnership announced today between the United Kingdom and Spain. The agreement, reached during a visit to Madrid by UK Chancellor of the Exchequer Rachel Reeves, signals a concerted effort to deepen ties between the two nations post-Brexit and boost bilateral trade, which has been steadily increasing in recent years.
The move comes as the UK seeks to solidify its economic relationships with European partners, despite the complexities introduced by its departure from the European Union. Reeves’ visit, her first to Spain as Chancellor, underscores the importance of the Spanish market to the UK economy and a broader strategy of closer alignment with European economic principles. The Chancellor emphasized that fostering strong partnerships is crucial for securing resilient growth in an uncertain global landscape.
During her visit, Reeves announced a £240 million investment by Spanish liquid storage company Exolum, a tangible demonstration of confidence in the UK-Spain economic relationship. She likewise met with 120 Spanish businesses and investors, and held discussions with Spanish Economy Minister Carlos Cuerpo, culminating in a joint declaration to intensify economic cooperation. The new work visa waiver is expected to unlock approximately £250 million in additional exports to the UK over the next five years, according to the British Embassy in Spain.
Spain Initiated Visa Waiver Proposal
The impetus for the work visa waiver scheme originated with the Spanish government, which first proposed the mutual exemption in December 2025. As reported by The Local, the proposal aimed to streamline travel for professionals and reduce bureaucratic hurdles hindering economic collaboration between the UK and Spain.
Expanding Trade and Investment
The agreement builds upon a Strategic Framework signed last September in London by Spanish Prime Minister Pedro Sánchez and UK Prime Minister Keir Starmer. That framework identified technology and defence, and life sciences – particularly Spain’s growing pharmaceutical exports – as key areas for strengthened cooperation. Trade between the two countries has been on an upward trajectory. Spanish exports of goods to the UK reached €24.9 billion in 2025, a 4.5 percent increase from 2024 and a significant 25.4 percent rise compared to 2019, pre-Brexit and pre-pandemic. Trade in services is even more substantial, with Spain exporting €29.2 billion, including over €10.6 billion in non-tourism services.
British exports to Spain have also seen growth, reaching £22.1 billion between October 2024 and September 2025, representing an 11 percent annual increase. Spain is now one of the fastest-growing export destinations for the UK, second only to Sweden among the top ten markets.
Reeves Advocates for Closer EU Alignment
Reeves’ visit to Spain followed a speech in which she outlined plans for the UK to adopt more of the European Union’s rules. She argued that closer alignment with Brussels would provide greater certainty for businesses and potentially help to curb inflation. Reeves cautioned that the UK risks becoming “stranded” between competing trading blocs if it does not actively pursue a closer relationship with the EU. “In an uncertain world, we must build growth that is secure and resilient,” Reeves stated. “We do this best through partnerships with those who share our interests, our values, and our ambitions.”
Spanish Economy Minister Carlos Cuerpo echoed this sentiment, stating, “No country can face the challenges of this era alone — economic security, technological transformation, climate change. The answer is more cooperation with trusted partners, not less. And the United Kingdom is, and will remain, one of Spain’s most important partners.”
Sánchez Calls for UK Re-entry to EU
The push for closer ties comes amid ongoing debate about the long-term implications of Brexit. Spanish Prime Minister Pedro Sánchez recently suggested that the UK should consider rejoining the European Union, acknowledging that “countries and governments can make mistakes.” In an interview on the podcast “The Rest is Politics,” Sánchez described Brexit as “a terrible loss” for both the UK and the European project, while also emphasizing the potential for continued cooperation even outside of EU membership.
The first edition of the Trade and Investment Dialogue, held in Madrid during Reeves’ visit, provided a platform for detailed discussions on these evolving economic relationships. The dialogue focused on identifying opportunities for increased collaboration and addressing potential obstacles to trade and investment. The UK and Spain are committed to building on this momentum in the coming months, with further meetings and initiatives planned to strengthen their partnership.
The next scheduled step in this ongoing dialogue is a follow-up meeting between UK and Spanish officials in London in the autumn of 2026, where progress on the implementation of the visa waiver and other collaborative initiatives will be reviewed.
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