29 nov 2018
Spain – China Business Meeting

ANTONIO GARAMENDI, REYES MAROTO, ZHONG SHAN AND JOSÉ LUIS BONET OPEN THE SPAIN-CHINA BUSINESS MEETING

CEOE, the Chinese International Contractors Association (CHINCA) and the Spanish Chamber of Commerce signed a collaboration agreement.

The president of CEOE, Antonio Garamendi; the Minister of Industry, Trade and Tourism, Reyes Maroto; the Chinese Trade Minister, Zhong Shan; the president of the Spanish Chamber of Commerce, José Luis Bonet; and the President of the Chinese International Contractors Association (CHINCA), Fang Qiuchen, opened today the Spain-China Business Meeting held at CEOE’s headquarters, where business and investment opportunities between both countries were analysed, as well as bilateral cooperation and collaboration in third markets. CEOE, CHINCA and the Spanish Chamber of Commerce also signed a collaboration agreement to promote and encourage trade and investment between China and Spain.

Photo at CEOE of the Spain-China Business Meeting
Photo at CEOE of the Spain-China Business Meeting — ©José Luis Roca

The meeting was also attended by the Director General of International Trade and Investments of the State Secretariat for Trade, María Paz Ramos; the president of the Industrial and Commercial Bank of China, Yi Huiman; the vice president and CFO of Gestamp Asia, Antonio López Arce; the executive vice-president of China Investment Corporation, Ju Weimin; the Director of Strategic Alliances of Telefónica, Jacobo García-Palencia; and the president of China Communications Construction Co, Song Hailiang. The event was closed by the CEO of ICEX Spain Export and Investment, María Peña.

Bilateral relations

The president of CEOE, Antonio Garamendi, highlighted the technological leadership that Chinese companies are acquiring in many technological areas related to electronic commerce, the internet of things, big data or artificial intelligence. They’ve become essential partners for Spanish companies that intend to remain at the forefront of technology and want to grow in the global market.

CEOE very positively values, according to Garamendi, the visit from President Xi Jinping to our country, as it is a great opportunity to strengthen institutional and economic relations and boost trade relations between both countries.

 

Garamendi made a specific reference to the agreements signed during his visit, such as the agreement to avoid double taxation, which updates the current one by adapting it to the new needs of Chinese and Spanish companies; the agreements on pig products and table grapes; and the memorandum on third markets, which provides for the creation of a working group between governments and companies from both countries to identify and promote joint projects in third markets. Likewise, he welcomed the commercial agreements signed between Chinese and Spanish companies in fields such as services, industry and technological cooperation.

The Minister of Industry, Trade and Tourism, Reyes Maroto, stressed the importance of the visit from the President of China to Spain and recalled the importance of Spanish and Chinese businessmen, who are the true protagonists of these economic and business meetings. She indicated that companies would find the necessary complementarities to enable Spanish exports to China and Chinese exports to Spain.

She referred to the fact that Spanish exports in the last decade have doubled and that there are already 150 companies with Chinese capital in Spain. She praised the companies from the two countries for their commitment and their constant work to increase trade relations between Spain and China.

China's Trade Minister, Zhong Shan, mentioned the success of the meetings held between Chinese and Spanish businessmen over the past few days. He indicated that this marked the start of a phase of greater collaboration, even though trade relations between the two countries have always been good, and he said it is necessary to promote collaborations with third countries in fields such as energy, tourism, the environment, finance or communications.

Furthermore, he explained that, over the past five years, China has signed agreements with more than 140 countries and global organizations and he pointed out that China wants to share its economic opening with all countries, especially with Spain.

For the president of the Spanish Chamber of Commerce, José Luis Bonet, "China is a high priority market for Spain, with a very positive outlook." He explained that this is being favoured by its strong evolution towards a growth model based more and more on the dynamism of its growing middle class, the modernization of its economic structures, and its powerful commercial opening and integration in the global value chains "All these elements are essential in order to identify collaboration and business opportunities among our companies," he added. José Luis Bonet also stated that Spain has a lot to offer, since it has a significant number of world leading companies in their specific activity sectors, as well as strong base of exporting SMEs that is continuously growing and offers highly competitive goods and services in international markets.

Cooperation

The Chinese International Contractors Association (CHINCA), CEOE and the Spanish Official Chamber of Commerce, Industry, Services and Navigation are committed, as stated in the agreement reached, to promoting cooperation in various fields such as economy, trade and investment between Spain and China, as well as to establishing a mechanism for stable and lasting collaboration, all of which is based on the principles of cooperation. This will enable the identification of sectors, activities and projects in the two markets, as well as in third markets, where they can carry out effective cooperation, and it will foster the exchange of information between companies from both countries.