In an effort to bolster trade relations with the other members of the European Union bloc, Chinese President Xi Jinping will include in his travel itineraries the state visit to Spain which will happen next Wednesday. The official visit is expected to put focus on enriching the trade and tourism relations between the two countries. Moreover, Xi's aim is to endorse his administration's Belt and Road Initiative to the continent.
According to Reuters, President Xi's next stop will be in Madrid. Joining his entourage will be the country's top trade and tourism ministers who will meet with representatives from major Spanish banking institutions such as Santander and BBVA, as well as other firms such as Spain's own Telefonica telecommunications and oil company, Repsol.
Political and economic expert Philippe Le Corre told the news agency that although Spain has been lagging behind its Iberian neighbor, Portugal, in attracting Chinese investments, Madrid is now keen on keeping up with race and appears to be wanting more than establishing a warm bilateral relations with Beijing.
Corre added that despite this situation, China's dealing with Spain has already been improving in the past few years as evident in the Asian nation's stake acquisition in Noatum Port Holdings, a Madrid-based port operations and logistics company.
With a much higher stake, now at 51 percent, this basically gives the state-owned China Ocean Shipping Company, shared control over Spain's major harbors in Valencia, Bilbao, and Barcelona.
As what Corre noted, it basically makes Spain an integral part of China's so-called maritime silk road.
Speaking of silk road, South China Morning Post report said that Xi's other agenda of the visit would be for Spain to help endorse the administration's Belt and Road Initiative and in doing so, will consolidate China's ties with Europe.
The particular of his visit indicated that Xi will be in Madrid on November 28 to help commemorate the 40th anniversary of the Chinese-Spanish friendship.
The Chinese head of state will also be meeting his counterpart, Spanish Prime Minister Pedro Sanchez, who was sworn into office June of this year.
After Spain, Xi will also be bound for Portugal, and later on, in Panama. Asia Nikkei said that these official trips will happen around the time of his trip to Argentina for the upcoming G20 summit, which will begin Nov. 30.
At the G20, Xi is also expected to meet with US President Donald Trump at the sidelines. It is believed that the leaders of the two world economies would discuss the matters concerning the currently on-going China-US trade war.
