Cooperation will increase in the coming years thanks to new trade agreements
Exports from the Canary Islands to West African countries increased by 65,62 percent in the first seven months of 2007 compared to the same period in 2006, excluding fuels, reported the Territorial Director of Commerce, Rafael Molina Petit, today.
Molina, whose department reports to the Ministry of Commerce, announced this "brutal" increase in exports during the meeting held today by the executive committee of the Advisory Council for the Promotion of Trade with West Africa (CAPCAO) at the headquarters of Casa de África, which aims to provide and improve support instruments for Canary Island investors.
Trade relations will also improve in the coming months with the approval by CAPCAO of the list of African businesspeople that will be available to Spanish consulates in those countries to facilitate their entry into Spain, reported the Secretary General of Foreign Trade, Alfredo Bonet.
This is a persistent demand from chambers of commerce and business organizations, Bonet noted, adding that he was "optimistic" about the medium- and long-term trade outlook with Africa and pointing out that the sectors with the greatest potential for investment will increasingly be industrial and service-based.
Bonet pointed out that the interest of Canary Island businessmen in Africa has always "been great" and is growing, although reforms are needed to make doing business with these countries more attractive, as has been noted in the three years of operation of CAPCAO.
He also considered that cooperation will increase in the coming years following the entry into force of the trade association agreements being negotiated by the European Union with the ACP (Africa, Caribbean and Pacific) countries, which will allow them to take advantage of the opportunities presented by market liberalization.
These agreements aim to introduce, as considerations, training in the field of public administrations and the development of the private sector in the ACP countries, Bonet indicated.
Molina added that they will allow free access for ACP products to Europe, the granting of non-refundable loans and subsidies, and the liberalization of their imports, among other issues.
Bonet also referred to the need to continue negotiating agreements for the protection and reciprocal promotion of investments with West African countries to provide legal cover for economic relations, an issue on which further progress is needed and which is supported by Spain and the countries receiving the investment.
He indicated that these types of protection agreements are currently being negotiated with Mozambique, Senegal, Mauritania, Cape Verde, Ivory Coast and Burkina Faso, although he stressed that others are already in force.
Furthermore, Bonet reported on the business meeting to be held in Senegal on November 22nd and 23rd, which is one of the many missions and trade fairs that will take place to advise entrepreneurs individually in order to establish cooperation projects.
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