He is expected to meet with Spanish Prime Minister Jose Luis Rodriquez Zapatero Tuesday.
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Spain is Mexico's main European Union trade partner. It has invested about $19 billion in Mexico, mainly in the telecommunications, electrical and financial sectors.
Mr. Calderon's visit to Spain is his first since taking office last month. It is his last stop on a six-day European tour that included Germany, Britain and the World Economic Forum in Davos, Switzerland.
On Monday in London, British Prime Minister Tony Blair and Mr. Calderon agreed that Latin American countries should keep their economies open to maintain strong ties with Europe.
Some information for this report was provided by AP and Reuters.