The full accession of Spain and Portugal to European Community in the middle of 80’s has opened up new opportunities for both Iberian countries. However this first twenty years since the integration can be viewed as a success story in Spain, meanwhile there are numerous problems with taking advantage of accession in Portugal. Spain has achieved high level of economic development and now is an important part of European Union. From the perspective of new Member States, adjustments which took place in Portugal and Spain are important, because necessity of structural changes lies ahead of them.
The paper provides general ideas of social and economic progress, which has taken place in Portuguese and Spanish regions since accession. The objective of the research is to present the impact of Portuguese and Spanish integration with European Community structures upon their regions.