Officials: Trade mission to Spain marks ‘new phase of economic expansion’

The Puerto Rico trade delegation, led by Gov. Jenniffer González Colón and Economic Development & Commerce Secretary Sebastián Negrón Reichard, center background, held more than 200 business meetings with potential buyers, distributors and investors in Madrid and Barcelona.

By THE STAR STAFF

The Puerto Rican trade mission to Spain, led by Gov. Jenniffer González Colón and Economic Development and Commerce (DDEC by its acronym in Spanish) Secretary Sebastián Negrón Reichard, concluded this week with what officials said are significant outcomes that reinforce the island’s status as a reliable destination for international investment and a strategic player within the U.S. market.

During the visit, the delegation -- which included 18 local companies from the manufacturing, technology, energy, food, services, and biosciences sectors, as well as mayors, the Invest Puerto Rico team, and other officials such as Puerto Rico Federal Affairs Administration Executive Director Gabriella Boffelli and Puerto Rico Industrial Development Company Executive Director Roberto Lefranc -- held more than 200 business meetings with potential buyers, distributors and investors in Madrid and Barcelona.

The trip featured participation in the Spain-Puerto Rico Business Forum, organized by the Spanish Chamber of Commerce. In front of a packed audience of business leaders, the governor and the DDEC secretary emphasized Puerto Rico’s role in the U.S. economy, its potential as a hub for reshoring operations, and the public-private partnership models driving advancements in infrastructure, energy and innovation.

“Puerto Rico plays an essential role in the U.S. economy, and our natural connection with Europe enhances that value,” González Colón said. “That is why I have formally requested that the U.S. Treasury Department address the issue of double taxation between Puerto Rico and Spain, an important step to facilitate new investments and strengthen the bilateral economic relationship.”

As chair of the Friends of Congress Caucus, González Colón initiated discussions and initiatives to eliminate double taxation between Puerto Rico and Spain.

The delegation also met with executives from MAPFRE, Acciona, Ferrovial, Abertis (Metropistas), Naturgy and Indra to discuss investment opportunities, digitalization, energy, construction and technological development. Additionally, they held discussions with Arcano Partners, the main investors in Toro Verde, a Puerto Rican company developing a $100 million project in Cuenca, Spain, expected to open next year.

“The interest we found in Spain confirms that Puerto Rico is entering a new phase of economic expansion with positive results. Spanish companies see us as a strategic partner within the United States and as a natural connection point with the Americas,” emphasized Negrón Reichard. “This mission reaffirms that our internationalization policy is opening doors and creating opportunities for our businesses while attracting investment to the island.”

In Barcelona, the Puerto Rico delegation participated in the Spanish Pavilion at the Smart City Expo World Congress, the world’s leading event on smart urban solutions. There, the municipalities of Bayamón, Canóvanas and San Juan showcased projects related to sustainable mobility, energy transition, and the digitalization of public services.

To build on the agreements and potential partnerships formed during the trade mission, DDEC announced that a Spain-Puerto Rico Investment Forum will be held in Puerto Rico during the first half of 2026. The forum is being organized in collaboration with the Spanish Chamber of Commerce, the Spanish Trade Office in Puerto Rico, and the Spanish Ministry of Foreign Affairs.

It was also confirmed that Puerto Rico will host the annual meeting of the Spain-United States Council and the United States-Spain Council. This event, taking place for the first time on the island, will bring together institutional, business and academic leaders from both countries to enhance trans-Atlantic cooperation.

“Puerto Rico hosting the annual meeting of the Spain-United States Council and the United States-Spain Council for the first time, alongside a bilateral investment forum supported by the Spanish government, is a recognition of the island’s regained prominence on the international economic agenda,” Negrón Reichard stressed. “These initiatives will deepen the relationships we’ve established and attract more investment and collaboration in our productive sectors.”

The mission to Spain is part of DDEC’s international expansion agenda, which has enabled more than 150 local companies to participate in international trade missions and fairs between 2022 and 2025, resulting in reported sales of more than $65.9 million and an estimated return of 54.9 times for every dollar of public investment.