The President of the Basque Government explains the unique tax and financial situation of the Basque Country to numerous political and business leaders in Davos

• Imanol Pradales discusses the reality of the Basque Country with Bill Gates, Jens Stoltenberg, Paschal Donohoe and Justin Trudeau, among others.
• “We have a lot to show and a lot to learn,” said the President from Switzerland.

President Imanol Pradales spent an intense day of work today at the World Economic Forum in Davos, with an agenda focused on sustainable finance, development financing models, international cooperation and the role of soft power in the international arena. In his personal meetings, the President added to these relevant issues information on the unique tax and financial situation of the Basque Country and why this makes it an attractive region for attracting investors and those with a ‘technological appetite’.

“We benefit from a system of self-government that allows us, through the Economic Agreement, to be practically independent in terms of tax and financial sovereignty. This makes us an attractive destination for investment and technological appetite," explained Imanol Pradales personally at the various meetings he held throughout the day.

A high-level agenda, with important public figures gathered in Davos, such as Bill Gates, co-founder of Microsoft; Jens Stoltenberg, Secretary General of the North Atlantic Treaty Organisation (NATO) between 2014 and 2024 and current Minister of Finance of Norway; Paschal Donohoe, Managing Director of the World Bank; Justin Trudeau, former Prime Minister of Canada; Matthias Diependaele, current Prime Minister of Flanders; and Kashim Shettima, Vice-President of Nigeria, among others.

At these meetings, Imanol Pradales also highlighted the disruptive investments that the Basque Country is making in innovation and technology, such as the installation of Europe's first IBM Quantum System Two, which opened in October 2025 in Donostia. It turns out that the 2027 World Economic Forum in Davos will focus on quantum technology, and “the Basque Country is already at the forefront of this field,” the Lehendakari said.

“We are a small country, we are humble, but we believe that the Basque model of economic and social development is unique.” We have been able to combine a country that is competitive and advanced from an industrial, economic and technological perspective with strong social cohesion. This has enabled us to make progress as a country in terms of welfare,” Imanol Pradales pointed out in his meetings.

An intense day

Wednesday began with the attendance of the President at a high-level meeting chaired by business magnate Bill Gates and former NATO Secretary General Jens Stoltenberg. They discussed the role of sustainable finance and new models of development financing as key tools for tackling major global challenges, from the energy transition to reducing inequalities. At the meeting, the importance of combining public investment, private capital and innovation to promote fairer and more sustainable development was highlighted.

The Basque President then held a bilateral meeting with the President of Flanders, Matthias Diependaele, in which both parties shared their views on the international situation and explored avenues for collaboration between European regions with strong industrial profiles that are innovative and open to the world.

Next, Imanol Pradales participated alongside former Canadian Prime Minister Justin Trudeau in a debate-colloquium focused on soft power, reflecting on the capacity of territories and countries to influence and cooperate internationally through values such as democracy, social cohesion, culture, innovation and sustainability.

The day concluded with the President participating in an event organised by former US Secretary of State John Kerry, focused on the challenges of sustainable development and the need to accelerate climate action through strong international partnerships and specific commitments.

“It was important for the Basque Country to be present on this global stage, to build relationships, to sow seeds for future results. It is a matter of consistency. Coming just once is not enough. We need to be here more often. We have a lot to show and a lot to learn,” the President concluded.

With the United Nations

Tomorrow, the President will chair a joint event organised by the Basque Government and the United Nations within the framework of the World Economic Forum in Davos, where he will present the Basque model of development as an international benchmark based on a combination of economic progress, social cohesion and sustainability.

The President's attendance in Davos responds to the Basque Country's desire to actively participate in the main global debate forums, contribute its experience in industry, innovation and sustainability, and reinforce its role as a stakeholder committed to competitive and socially responsible economic development.