In Spain, the death of Francisco Franco in 1975 signaled the beginning of the transition to democracy, and the establishment of the constitutional monarchy of Juan Carlos I and the government of Adolfo Suárez.

In Equatorial Guinea, the 1979 coup d'état, subsequent execution of Macías and formation of the Supreme Military Council established the regime of Teodoro Obiang Nguema Mbasogo and allowed the restoration of bilateral relations between the two countries.

[2] In 1980, in the months prior to the signing of the Treaty, seven agreements or protocols were agreed between the two countries,[2] among them those that allowed the presence of the Spanish National University of Distance Education (UNED) in Malabo and Bata.

The text began with a recognition of the crisis created by Macías, and the desire of both countries to close it: Considering: That after the political change recorded on 3 August 1979, the new Government of the Republic of Equatorial Guinea addressed the Government and the Spanish people requesting their help in rebuilding the country That relations between Spain and the Republic of Equatorial Guinea, always based on non-interference in domestic politics, then began a new stage, characterized by a profound desire for Cooperation After the Treaty, a series of joint ventures were created, 50% owned by each country, including GEPSA (oil, with the participation of Hispanoil), GEMSA (minerals, partly belonged to ADARO, a company of INI), Guinextebak (Banco Exterior de Guinea Ecuatorial y España), CETA (Compañía Ecuatoguineana de Transporte Aéreo) and OFICAR, for urban passenger transport.

[4] A couple of weeks after the signing of the Treaty, Obiang made his first trip to France, on the eve of a tour of Juan Carlos I through Gabon and Cameroon, with a stopover in Equatorial Guinea, in the first half of December.