The Spain-Colombia Foundation launches the 3rd Bilateral Economic Barometer

 

The BBVA City in Madrid was the epicenter of the presentation of the III Barometer of Spain-Colombia Economic Relations, An initiative of the Spain-Colombia Council Foundation, prepared by the consulting firm Gedeth NetworkThe event brought together important diplomatic, business and financial figures, consolidating the Barometer as a essential tool to understand the economic dynamics between both nations.

 

John Rutherford, Global Director of Public Affairs at BBVA, opened the day by highlighting the positive evolution of the report's indicators and reaffirming BBVA's role as the largest foreign investor in the Colombian financial sector. Rutherford mentioned initiatives such as BBVA Spark, the $2.400 billion investment in sustainable financing, and the issuance of the first biodiversity bond in 2024, in collaboration with the IFC and the IDB.

 

 

61% of Spanish companies in Colombia will increase their activity, while almost 81% of Colombian companies present in Spain also plan to increase their activity in the country.

 

 

For its part, Carmen Fernández-Torres, Secretary General of the Spain-Colombia Council Foundation, emphasized the institutional commitment with the deepening of strategic and economic relations. In this regard, Ana Esmeralda Martínez, Director General of Economic Diplomacy at the Ministry of Foreign Affairs, stressed the growth potential of Spanish investment in strategic sectors of Colombia.

 

The Colombian Ambassador to Spain, Eduardo Ávila Navarrete, positively valued the role of Spanish business and highlighted the current opportunities in Colombia, favored by lower inflation, a dynamic agricultural sector, and a notable 40% increase in agricultural exports over the last year.

 

Among the sectors with the most opportunities for Spanish companies in Colombia are education, industry, agri-food and technology. 

 

 

Juan Millan, CEO of Gedeth Network, was responsible for presenting the report's findings, contextualizing them within a complex global landscape. Millán indicated that, despite geopolitical uncertainty, bilateral economic relations maintain a solid perspective, with a business community focused on protecting their investments and keep growing, although they perceive the political environment as their main risk.

 

The Barometer reveals that Spanish businessmen established in Colombia, many with more than a decade of experience, They value his career positively and feel welcomed, although they express caution regarding the influence of ideological factors. In contrast, Colombian companies with a presence in Spain, although smaller in size, show a firm optimism and ambitious expansion plans, highlighting the cultural closeness as a key competitive advantage.

 

During the subsequent discussion, the need to expand the scope of the Barometer to include aspects of sustainability and social action, emphasizing corporate responsibility as a bridge between different business cultures. The importance of improve employability and to analyze more deeply the social impact of foreign investment.

 

Sectors like educational, industrial, agri-food and technological were identified as promising areas for future development. Emphasis was also placed on the importance of facilitating access to incentives in Colombia, where certain barriers remain for foreign companies, and on the need to advance business training to enhance local competitiveness.

 

The day concluded with a reflection on the importance of mutual knowledge as a fundamental pillar for strengthening bilateral relations between Spain and Colombia, a mission that the Spain-Colombia Council Foundation will continue to promote. The Barometer was developed by the Gedeth Research Center, the analysis unit of the Gedeth Network, under the direction of Gina Bowman.