Business Reception Speech in Madrid | 05/03/2026

Dear Ministers,

Your Excellencies,

Ladies and Gentlemen,

It is with great pleasure that I address this evening’s business reception after an eventful and enriching day. This visit to Madrid is one of the first official trips abroad that I have undertaken since my accession to the throne. It holds great significance - symbolic, certainly, but also very tangible - for me personally, and for our two countries, Luxembourg and Spain.

I am pleased to see so many friends of Luxembourg in this room, so many thriving businesses and partners who, through your collaboration, showcase the strength of our links and the wealth of opportunities in front of us. Many of you know Luxembourg very well. I want to thank you for your trust in our country and assure you that you are very welcome in our business community.

I would like especially to thank the Deputy Prime Minister, Minister of Foreign Affairs and Foreign Trade, as well as the Minister of the Economy and, the Minister of Finance, for accompanying me here to Madrid. This high-level delegation demonstrates the importance of our economic partnership and just how multifaceted, strong and dynamic the relationship between our two countries truly is.

But my visit today to Madrid is merely the tip of the iceberg. I could point to the many visits and trade missions led by Luxembourg government officials in recent years. Ongoing collaboration, unwavering commitment, and impressive work on both sides have produced tangible results - results that I can personally attest to.

This afternoon, together with His Excellency the Prime Minister, Pedro Sánchez, I presided over the signing ceremony of three memoranda of understanding. Our strengthened economic cooperation and exchange will now expand into the fields of renewable energy and the space sector.

By establishing bilateral cooperation on hydrogen and other renewable energy sources, and by pursuing future joint investments, our nations are seizing the opportunity to shape a sustainable future together. The entire world is feeling the effects of climate change. Spain and southern Europe have recently experienced the dramatic consequences of climate disruption. In light of this, it is clear that we must join forces in the energy transition, in meeting Europe’s energy objectives, and in advancing towards a more sustainable economy.

In the field of space technologies, both our nations have young and dynamic space agencies, reflecting our strong belief in the future of this sector and the many opportunities it offers. Working closely with our European partners, we are committed to strengthening Europe’s capabilities in Earth observation, spatial data and satellite systems.

I am particularly enthusiastic about how complementary our approaches to the space sector are: Spain is oriented towards engineering and industrial manufacturing capabilities, while Luxembourg focuses on data, commercial space services and the financing of space activities.

Commitment and technological investment underpin our economic ties. By joining forces - in space, in sustainable energy, and in the financial sector - Luxembourg and Spain are shaping collaborations and solutions that will benefit Europe as a whole.

Ladies and Gentlemen,

Spain and Luxembourg also share a commitment to open, humane and tolerant economies and societies, welcoming foreign nationals and talents who contribute to the success of our economies and culturally enrich our societies. In Luxembourg, over the past decades we have succeeded in building a multicultural society welcoming people from all horizons, and we truly value their contributions to our economy and to our country. Foreign nationals, including many Spanish citizens, have become deeply rooted in our communities - through family, social ties and employment - to the point where they are now an integral part of our identity.

In a world where fundamental principles of mutual respect, international law and cooperation can be disregarded without warning, open societies and economies that rely on free trade, the rule of law and equality are increasingly vulnerable. Yet it is precisely in such times that our shared commitment to these values becomes our greatest strength, enabling us to remain resilient and to shape a more stable and prosperous future together.

This year marks the 40th anniversary of Spain’s accession to the European Union - a milestone that has undoubtedly proven to be a remarkable success story. Today, our two countries work together within a shared legal, economic and cultural framework, strengthening our partnership and enriching our common European project. This common, stable framework is essential for businesses and financial markets to thrive and prosper.

And even when unprecedented challenges - including a war of aggression on our doorstep and a conflict in the Middle East – put to the test our ability to remain united and steadfast in our core values, the need to strengthen European unity becomes all the more evident. Today, more than ever, we need reliable partners with whom we can build a stronger Europe and safeguard our common future.
It makes me proud to see that Spain and Luxembourg, through their strong friendship and close exchanges, continue to lead by example.

To conclude, I would like to reaffirm that this visit to Spain - accompanied by a substantial government delegation and enriched by our exchanges with Their Majesties, the Prime Minister and other representatives of the Spanish government and parliament - is a valuable opportunity to reaffirm our common priorities and to create opportunities for further cooperation in the economic and financial sectors.

Thank you very much for your attention.

Enjoy the evening.