The First Vice President of the Spanish Government and Minister of Economy, Trade and Business, Carlos Cuerpo, met in Lisbon with the Minister of Economy and Territorial Cohesion of Portugal, Manuel Castro Almeida, to advance the plan for the integration of the Iberian economies.
During the meeting, framed within the Joint Declaration signed on March 6, 2026, which gave rise to the Luso-Spanish Strategic Forum for Competitiveness, a memorandum of understanding was signed between the Official Credit Institute (ICO) of Spain and the Portuguese Development Bank (BPF) of Portugal, with the aim of promoting collaboration between both development banks. This agreement promotes social housing and affordable rental, as well as the harmonization of credit rating models, thus facilitating financing and support for business internationalization.
In addition, measures were discussed to simplify the opening of cross-border bank accounts, and progress was made in the implementation of a common electronic invoice and the mutual recognition of professional qualifications, which will facilitate labor mobility. Carlos Cuerpo emphasized that these steps are essential to create an integrated Iberian market, while Almeida highlighted the determination of both countries to eliminate obstacles and promote joint economic growth.
