The UK ambassador says it remains a very attractive market for Spanish companies

Conference sponsored by Banco Santander

The Madrid Chamber of Commerce has organized a virtual round table with the participation of the United Kingdom ambassador to Spain, in order to analyze the opportunities offered by the British market after Brexit.

United Kingdom It is the fifth world economy by GDP, it occupies the first place as a recipient country for Spanish service exports and it is the fifth destination for the assets of our companies. The British market has experienced a 14,7% increase in exports from Spanish companies in the second quarter of 2020. In this context, the Madrid Chamber of Commerce has organized a virtual round table with the participation of the ambassador of the United Kingdom in Spain, Hugh Elliot, in order to analyze the opportunities offered by the British market after the Brexit and clarify the current situation.

El ambassador of the United Kingdom in Spain, Hugh Elliot, He has been optimistic about the relations between both countries and has assured that “they will continue to be a very attractive market, since there is no desire to change the successful model that has existed until now.” In this sense, the United Kingdom ambassador has specified that "there are new rules, but they are still the same market." A change in regulation that he has recognized “that complicates trade and is a step backwards”, but that they are “committed to being transparent and efficient to help simplify these procedures” that companies have to comply with in order to establish commercial relationships in the British market.

During his speech, the president of the Chamber of Commerce of Madrid, Ángel Asensio, has also emphasized the values that the Capabilities means for the Madrid business fabric "since it allows preserving employment and competitiveness." Furthermore, he recalled that “Brexit is not the end, but rather it is a continuity, an opportunity.” Thus, he has spoken out in favor of "continuing to strengthen commercial relations and make it easier for companies to do business beyond our borders", although this has to be linked to "digitalization and sustainability as essential business criteria", he has pointed out.

The meeting also included the participation of the general director of Economy and Competitiveness of the Community of Madrid, Jose Rubio Vela, and the Director International Desk & UK Country Specialist of Banco Santander, Juan Gañán de Andrés, that have focused on clarifying the new scenario that has remained after the departure of the United Kingdom from the European Union on January 1.

The general director of Employment and Competitiveness of the regional government has highlighted the role that the British market plays for both Spain and the Region of Madrid being one of its main partners and has expressed the commitment of the regional government to continue nurturing this commercial relationship. For his part, the Director International Desk & UK Country Specialist at Banco Santander has highlighted the value of exporting companies, which are “more competitive and with fewer risks” and has recognized that “the United Kingdom is a country to be in”, which is why it has explained the services that the entity offers to help companies internationalization in the British market.

The day closed with the intervention of the president of the Chamber of Spain in the United Kingdom, Eduardo Barrachina, who has spoken about the challenges that lie ahead. Among them, the main one is to “ensure that companies understand what they have to do to achieve the zero tariff” and that “before the summer they know how the tariff will affect them.” Brexit".

The virtual round tableUnited Kingdom in the new post-Brexit context”, sponsored by the Banco Santander, has had the institutional collaboration of the Community of Madrid and the Madrid City Council, organizations committed to the internationalization of Madrid companies, and with Kuehne Nagel, a world-class company in the transport of goods.