Doughty will travel to Madrid and Lisbon to meet with counterparts and senior representatives from top European businesses
As part of the UK government’s initiative to drive economic growth and foster international collaboration, Minister of State for Europe, North America, and Overseas Territories, Stephen Doughty, will embark on a significant visit to Madrid and Lisbon. The trip aims to strengthen ties with European counterparts and promote the UK as a premier destination for investment and job creation.
With an annual trading relationship worth £63 billion, Spain stands as the leading European investor in the UK.
Building on this robust partnership, Minister Doughty’s agenda in Madrid includes a visit to the Iberdrola Innovation Centre. Iberdrola, one of Europe’s largest energy companies, has invested over £30 billion in the UK since 2007 and employs over 6,000 people through its subsidiary, Scottish Power. During the visit, Doughty will tour the company’s training campus and witness demonstrations of cutting-edge technologies driving the clean energy transition, presented by Iberdrola’s chief engineers.
Highlighting Iberdrola’s commitment to the UK, the company’s recent initiatives include completing their largest-ever recruitment drive in 2023, creating 1,000 new green jobs. In a testament to their confidence in the UK’s stable regulatory framework and policy direction, Iberdrola has announced plans to double its investment in the UK to £24 billion over the next four years. This expansion aligns with the UK government’s broader Plan for Change, focusing on economic growth and cementing the nation’s position as a clean energy superpower.
Minister Doughty expressed optimism about the visit, stating, “Through our Plan for Change, this government is taking a laser focus on driving economic growth, and a powerful lever for this will be showcasing what the UK has to offer overseas investors – including our friends in Europe. Both Spain and Portugal will be an essential part of this commitment, and I will be speaking to key businesses that are supporting British jobs, investing in our economy, and helping us become a clean energy superpower.”
While in Madrid, the minister will also engage with Spanish officials to discuss cooperation on European security, further solidifying the bilateral relationship.
Strengthening Ties with Portugal
The minister’s European tour will continue in Lisbon, where he will visit the headquarters of Avincis Helicopter Services, a provider of lifesaving emergency air services. Owned by London-based Ancala Partners, Avincis is a key player in aerial emergency services across multiple European countries. Ancala Partners acquired these operations from Babcock International in early 2023, highlighting the growing UK-Portugal business synergy.
UK service exports to Portugal increased by over 10% in 2024 compared to the previous year, showcasing the strengthening economic relationship. During his visit, Minister Doughty will discuss how the UK government’s support has facilitated Avincis’ growth and explore opportunities for further collaboration to boost prosperity and innovation.
The Anglo-Portuguese Alliance, the oldest diplomatic alliance in the world dating back to 1373, underscores the deep-rooted ties between the two nations. Minister Doughty’s visit will also include a meeting with Inês Domingos, Portugal’s Secretary of State for European Affairs. The discussion will focus on shared foreign policy goals, including Portugal’s recent €52 million donation for drones to the International Fund for Ukraine, which has been pivotal in aiding Ukraine’s defense efforts.
Background on UK-Europe Economic Ties
The trading relationship between the UK and Spain remains a cornerstone of economic collaboration, with total trade in goods and services amounting to £63 billion in the four quarters leading up to Q2 2024. Similarly, the growing economic partnership with Portugal has been marked by significant increases in trade and investment, driven by mutual efforts to foster innovation and economic resilience.
Through this visit, Minister Doughty aims to reinforce the UK’s position as a leader in green technology, secure pivotal investments, and build lasting partnerships with two of Europe’s key economic players.
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