The Director of International Business at Banco Sabadell analyzes the evolution of Spanish foreign trade in the 21st century, highlighting the importance of company size, digitalization and expert support in the face of global volatility.
Founded in 1881 in Sabadell (Barcelona), the Banco Sabadell It has established itself as one of Spain's leading financial institutions, with a long-standing commitment to serving businesses and SMEs. After posting record profits and launching a 2025-2027 strategic plan focused on independent growth and shareholder returns, the institution leads the international business segment thanks to its specialization and technology. Its recent strength following BBVA's takeover bid reaffirms its solvency in the market.
carlos dalmauHaving been with the bank throughout his career, he has held the position of Director of International Business at Banco Sabadell since 2011. Previously, he served as Director of Banco Sabadell in France for 14 years. In his current role, he leads the international financing and services strategy for businesses, managing both the product offering and distribution through specialists throughout Spain.
Evolution and Challenges of the Foreign Sector
How do you assess the first 25 years of the XNUMXst century for the internationalization of Spanish companies?
Carlos Dalmau: We live in an environment where everything happens at great speed, but to understand the present we must look to the beginning of the century, specifically to the Spain's entry into the euro in 2002That was a decisive moment that increased the competitiveness of Spanish products in the Eurozone and marked the beginning of a steady expansion. This was further reinforced by various treaties that formalized the expansion capacity of our industry.
These levers have been fundamental for Spanish companies to overcome various financial crises, such as the 2008 crisis or the Covid pandemic. In each of these crises, the foreign trade has emerged strongerCompanies have understood that diversifying markets improves product quality, competitiveness, and extends the life cycle of their services.
What do you consider to have been the main milestones, challenges, and most significant developments in our foreign trade at the start of this century?
CD: A key milestone has been the adoption of the 4.0 industry and the digitization of capital goods, which has allowed the incorporation of high-value products. The constant strategy has been diversification. However, significant challenges remain, the main one being enterprise sizeIt is vital that Spanish companies gain size in order to maintain a constant internationalization process, similar to the European average.
Furthermore, we have faced supply chain disruptions, such as the Suez Canal blockades and the pandemic, which have tested our logistics. At the bank, we always keep one crucial fact in mind: 98% of purchasing power is outside of SpainOur domestic market only represents 2% of global GDP. Companies have understood this. We have also observed a paradigm shift: compared to the traditional model of expansion through proximity, today there are emerging startups that are born with a global vocation from the first minute, considering Europe as their domestic market and the rest of the world as their international target.
The Role of Banking in Internationalization
In the current global context, what is the main strategic role that Banco Sabadell plays in supporting the internationalization of companies and how do you plan to evolve that role?
CD: Companies don't need just one product, but a professional and specialized supportAt Banco Sabadell, we have expert international business directors who are masters of everything from Incoterms to optimizing payment and collection methods. In a complex world, diversifying across countries means managing multiple currencies and risks.
Our strategy combines this expertise human with a strong digitalizationWe offer specialized offices and tools such as Sabadell Forex To mitigate exchange rate risks, ensuring transparency and immediacy in international payments. The client's ultimate goal is to collect payments efficiently, and we provide the technology to guarantee it.
Looking at the short and medium term, what are the biggest challenges and, at the same time, the clearest opportunities you identify for our country's foreign trade?
CD: Internationalization is not optional; it's a necessity. The environment presents challenges such as commodity price volatility, tariffs, and trade barriers. However, the greatest opportunity and lever for the future lies in... sustainability and innovationCompanies that incorporate these values are the ones that will lead the market.
There is also a critical challenge: talentInternational trade requires acumen and ingenuity to navigate a challenging environment. As an organization, our obligation is to support this need for knowledge and training.
Tools and Future Trends
To help businesses navigate this scenario, what new features, tools, or key services are you promoting from your organization?
CD: We are strongly committed to training. We have the program "Export to grow"Active since 2011, our program focuses on reducing the failure rate of companies starting out in exporting. For more experienced companies, we offer the "Sabadell International Business Program", a six-month master's program to develop internationalization plans.
At an operational level, we highlight our document management team, vital for financially structuring businesses, and a network of more than 2.000 correspondent banks which allows us to offer international guarantees. We cover the entire cycle: pre-financing, post-financing, management with the ICO (Official Credit Institute), and operations such as the ski passalways prioritizing transparency and immediacy.
Focusing on your specific sector, what trend or imminent change do you consider crucial for the coming months?
CD: Logistics and customs have become incredibly important due to tariff issues. Companies now require greater expertise in customs distribution, something that was previously secondary. Furthermore, competition is global: China is seeking new distribution channels, and the United States continues to export strongly.
Companies must adopt an "open door" policy toward new markets. The agreement with Mercosur, after 25 years of negotiation, or the reopening of the market in AlgeriaThese are clear examples of opportunities. Spanish products have a great reputation; our companies, sometimes smaller, compensate for their lack of size with a quality of service superior to that of European or American competitors.
And as a final thought, what key or fundamental recommendation would you give to any Spanish exporting company to succeed today?
CD: Although the landscape is complex, Spanish companies have demonstrated an extraordinary capacity for adaptation over the last 25 years, achieving a positioning that exceeded expectations. At Banco Sabadell, with over 140 years of history, we will continue to support them on this journey.
| Fact / Milestone | Description / Figure |
|---|---|
| Global purchasing power | 98% is outside of Spain (only 2% of global GDP is local). |
| Entry into the Euro | Year 2002 (Turning point in competitiveness). |
| "Export to Grow" Program | Started in 2011 for training in foreign trade. |
| Correspondent Network | More than 2.000 banks worldwide. |
| Mercosur Agreement | Negotiated for 25 years (new market opportunity). |
| History of Banco Sabadell | More than 140 years of history. |
Key points and frequently asked questions about Internationalization
- Why is company size crucial for exporting?
According to Carlos Dalmau, increasing business size is one of the main challenges to match the European average and to be able to sustain constant and robust internationalization processes over time. - What differentiates new companies, or "startups," in foreign trade?
Unlike traditional companies that expanded gradually through geographical proximity, startups They are born with a global mindset, considering all of Europe as their domestic market and seeking international opportunities from the outset. - What role do logistics and customs play today?
Due to tariff volatility and geopolitical conflicts, effective logistics and customs management has become critical. Banco Sabadell has strengthened its Incoterms training to help companies avoid bottlenecks.
