"These schemes create opportunities for young New Zealanders to develop their skills and work experience while travelling and living in Spain," Ardern said.
She said the scheme demonstrated the strength of the relationship between the two countries.
Ardern used the meeting to push Sánchez on supporting a "high-quality" trade deal between the European Union and New Zealand.
The two leaders agreed that such a deal would create opportunities for New Zealand and Spanish businesses in Europe and the Indo-Pacific.
"It would allow us to showcase sustainability and climate in a trade agreement - an issue the EU cares deeply about," Ardern said.
Ardern and Sánchez also announced a "Global Values Partnership" which recognises the shared values of New Zealand and Spain. Spain and New Zealand will seek to coordinate efforts to address global challenges using "values-based foreign policy", and seek to bolster the United Nations as the central organ of international diplomacy.
The pair said the United Nations could be adapted to undertake the fundamental transformations of our time and to better prepare societies for the future.
The United Nations has come under fire for the fact its institutions, particularly the powerful security council, are so deadlocked they cannot adequately respond to crises like the Russian invasion of Ukraine.
Ardern and Sánchez condemned Russia's invasion of Ukraine, singling out President Vladimir Putin for particular condemnation, saying the invasion was "illegal and unprovoked".
They said they would consider further measures to bolster diplomatic efforts to resolve the conflict.
A surprise outcome of the meeting was both countries adopting an Action Plan on seabird conservation to strengthen efforts to protect seabirds.
The endangered Antipodean albatross, whose immense migration covers the area in which both Spain and New Zealand operate, was singled out as a bird that would be protected.
