Fancy running from some bulls then running a bar?

New work and holiday visa arrangements between Australia and Spain will give more young people the chance to do both.

Immigration Minister Scott Morrison signed the reciprocal agreement on Wednesday.

It means 500 young people from each country will get the chance to head overseas on a holiday and be allowed to work or study at the same time.

Participants will need governmental support and either be studying or hold a tertiary qualification.

Mr Morrison expects the new program will foster people-to-people links and boost the already close relationship between the two countries.