“Mexico and Spain are a bet for the future. I Edition”
Members of the Business Coordinating Council, COMCE Nacional, CONCAMIN, COPARMEX, CONCANACO SERVITUR, Association of Banks of Mexico, and National Auto Parts Industry, among others; and more than 200 Spanish businessmen meet at CEOE.
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A Mexican delegation of the highest level, formed by the leaders of the business leaders of the BUSINESS COORDINATING COUNCIL, COMCE NACIONAL, CONCAMIN, COPARMEX, CONCANACO SERVITUR, ASSOCIATION OF BANKS OF MEXICO, and NATIONAL AUTO PARTS INDUSTRY, among others, highlighted the opportunities of bilateral business and investment during the meeting “Mexico and Spain are a bet for the future. I Edition”, in which more than 200 Spanish businessmen participated. This business mission, one of the most important in recent years, is the result of the excellent institutional and business relations between both countries, led by CEOE, and in the Ibero-American space due to the membership of the business organizations of both countries to the Council of Ibero-American Businessmen-CEIB.
The day, inaugurated by the Secretary of State for Commerce, Xiana Mendez; the president of CEOE, Antonio Garamendi; the president of the Spanish Chamber of Commerce, Joseph Louis Bonet; and the president of the Business Coordinating Committee, Francis Cervantes; and closed by the president of the Chamber of Deputies of Mexico, santiago creel, constituted a historic opportunity to analyze first-hand the economic and business reality of Mexico and represented the best scenario to identify investment opportunities in the Latin American country. The day was moderated by the general director of CEOE International and permanent secretary of CEIB, Narciso Casado.
In the coming days, Mexican businessmen will also have the possibility of holding meetings with Spanish institutions (both public and private) and companies, to address priority issues related to trade, industry, new technologies, public works, tourism, logistics and distribution. , among others. Without going any further, prior to the Meeting, the Mexican delegation was received by the Minister of Foreign Affairs, José Manuel Albares and the Secretary of State of Ibero-America, Juan Fernández Trigo, to debate priority issues not only for Mexico and Spain, but for the entire region.
Business Meeting: “Mexico and Spain a bet for the future. I Edition”
In the opening session of the Business Meeting “Mexico and Spain, a commitment to the future. I Edition”, the Secretary of State for Commerce, Xiana Méndez, highlighted the close bilateral relations between both countries, as shown in the last Binational Commission and in the Subcommittee on Economic and Financial Affairs, both recently held in the month of December and where “we reaffirm the commitment of both governments to continue working on the deepening and expansion of our economic and commercial relationship, which is strategic and enriching for both countries.” In this sense, Xiana Méndez highlighted the importance of the Global Agreement between Mexico and the European Union has had as a “way to maintain open and stable commercial relations and we express confidence that the Mexican authorities and the European Commission can find a prompt and adequate solution for its modernization.”
Likewise, Méndez also addressed the commitment and collaboration to favor Spanish investment in Mexico and vice versa, Mexican investment in our country. “Spain is the second international investor in Mexico, only behind the US, with more than 80.000 million dollars invested and with a presence in all sectors. Spanish companies also have a vocation for permanence that knows no crisis and a strong social commitment to the communities in which they operate."
In turn, the president of CEOE, Antonio Garamendi, advocated continuing to strengthen with Mexico during these days, to continue achieving more united and prosperous societies, always through dialogue, and the well-being of the countries and their citizens, making use of the best instrument of social inclusion that exists: job creation. Garamendi reported that Mexico is the 6th investing country in Spain and the 3rd in the European Union. He also opted to work together so that we can all achieve a future of circular and digital economy, of change and, above all, of renewal.
El President of the CCE, Francisco Cervantes, assured that they have 42 identified branches, in which Mexico is in the top 15 worldwide. As a region of North America, with more than 500 million inhabitants, it is a strategic partner for our country. In his opinion, to strengthen our relations, facilitation, regulation and competitive regulatory policies are needed to continue maintaining this very fruitful cultural and commercial relationship. “We have many reasons to walk together, since Mexico and Spain are two brother countries when they look in the mirror,” and we must continue to commit to collaborating on infrastructure, manufacturing, trade and investment projects. he stressed.
Finally, the president of the Chamber of Spain, José Luis Bonet, highlighted the strategic nature of their commercial relations for both countries: “Spain is the second investor in Mexico, only behind the United States, with nearly 7.000. established Spanish companies. And in turn, Mexico is the sixth largest investor in Spain.” A solid presence that, according to the president of the Chamber of Spain, “is maintained despite the fact that the international environment and certain elements of the current political climate introduce uncertainties.”
CEOE and COMCE renewed a pre-existing collaboration agreement, to facilitate the development of bilateral trade and investment, among other issues
New business opportunities
After the opening of the business meeting, the executive vice president of the Mexican Business Council of Foreign Trade, Investment and Technology, AC – COMCE, spoke at the event. Sergio E Contreras, who analyzed the perspectives and opportunities of foreign trade and investment in the face of a complex economic and social panorama; the president of CONCAMIN, José Abugaber; the general secretary of CONCANACO SERVYTUR, Guillermo Romero; the undersecretary of COPARMEX, José Antonio Loret de Mora; the CEO of INA – National Auto Parts Industry, Francisco González; who addressed the regionalization of global value chains, specifically in the automotive sector; and the ambassador of Mexico in Spain, Quirino Ordaz.
The general director of CEOE International and permanent secretary of CEIB, Married Narcissus, in his role as moderator, highlighted that Ibero-American businessmen, those of Mexico and Spain, speak with one voice, and we will continue to do so, about freedom and democracy, commitment to multilateralism, regional integration, firm promotion of intraregional trade, freedom and business defense, promotion of strategic alliances, social dialogue, legal and social security, competitiveness, elimination of barriers, administrative simplification, development of infrastructure projects, talent retention, innovation and digitalization, public-private collaboration, and sustainability. “At the regional level, we are driven by the objective of promoting a true Ibero-American platform that is based on available capabilities and resources, business synergies, associated talent, a common language and way of being. And in this the business alliance between Mexico and Spain is fundamental,” he stated.
Casado pointed out the importance of continuing to generate trust so that investments land; to create an industrial policy that is inclusive and above all that recognizes what has been done in Mexico, both nationally and internationally; to the need to promote and boost the Pacific Alliance, and the participation, if possible greater, of Spain in this successful process; and to continue counting on coordinated work teams at the business leadership to build Mexico-Spain relations increasingly stronger and more solid.
Sergio Contreras, after analyzing the situation, recognizes that the economic recovery after the pandemic crisis is being much smaller than expected; However, he highlights that the business fabric is more resilient today than before 2020 despite the energy crisis caused by the war between Russia and Ukraine. Contreras also points out the tension at the regional level that is added to pre-existing rigidities, the lack of raw materials, the disruption in global value chains that has caused shortages in supplies and high manufacturing costs. Although international trade growth of 3% a few months ago exceeds the WTO forecast of only 1%, it points out that 2022 has been a complicated year marked by fear of a recession, inflation and rising of interest rates.
In Mexico, as in the rest of the world, the economy has been greatly affected by this and by its interdependence with the United States. Regarding the forecasts, Contreras points out that growth is expected to be 1,3% lower than the previous year and points out nearshoring with the United States as a point to take advantage of. Spain has stood out this year for maintaining an inflation rate more than 5 points lower than the European Union average, 9%; It is a fact that, together with the recovery of tourism, allows us to be optimistic about Spain's recovery. In this sense, SMEs are a key factor in the economic recovery of both countries. Mexico is one of the largest non-EU investors in Spain, occupying the second position. Contreras calls for Spain to participate in the Pacific Alliance as an associated country and become the first EU country to participate in this process. In his own words, he must commit to “bringing the best of Mexico to Spain and bringing to Mexico the best of Spain,” a task in which business meetings of this type play a great role.
Meanwhile, the general secretary of CONCANACO SERVYTUR, Guillermo Romero, highlighted that the Confederation is committed to tourism, a sector that has experienced a strong recovery, as a source of wealth. He highlights that in this sense the crisis has been left behind and points to Spain as the fifth country with the most interest in Mexico at the tourist level, an interest that is expected to increase even more in the coming years. In this sense, the importance of air connectivity between both countries when promoting new destinations, such as Monterrey and Guadalajara, with a long-term vision and paying special attention to the environment, innovation and technology.
José Loret de Mola, undersecretary of COPARMEX, highlighted the relevance of updating the treaty between Mexico and the European Union to make it broader, stronger and more modern, benefiting sectors with constantly growing demand such as telecommunications, transportation and aeronautics. However, and although commercial relations are intense, Loret de Mola points out that the legal framework is complex and is subject to several modifications, something that will have to be paid attention to. Loret de Mola also points out a growing interest in renewable energies and ICT.
Spain, gateway to third markets
The Project Director of ICEX-Invest in Spain, Javier Iraola, highlighted that we are a gateway to Europe, which guarantees access to the largest developed market in the world, with more than 450 million consumers; without forgetting that it also represents an excellent platform towards Latin America, the Middle East and Africa. Iraola also assured that there are more than 16.000 foreign companies in Spain, we are the 10th country most open to investment, the 4th largest recipient of Greenfield Projects 2021, the 2nd largest investor in Latin America, and 90 of the 100 largest R&D+ companies. I have a subsidiary in Spain. There is no doubt that there are great business opportunities in Spain, there is a great openness to international talent; We are making progress in the area of decarbonization, since 50% of electricity comes from water, wind and sun; Large investments are being made in electric mobility and important green hydrogen projects are planned.
The ambassador of Mexico in Spain, Quirino Ordaz, spoke about the interparliamentary meeting that took place in November between both countries, which had not been held for 5 years and which gave very good results. A commitment was made to continue with this type of meetings, as well as the biannual Commission, which was reactivated last December, in which important conclusions were reached in the various areas of action. “This forum reaffirms the importance of our relations at all levels and understands that we are two countries of opportunity,” he said.
Closing: “What our people have united, no one can undo”
To close the day, the president of the CEOE Foundation, Fátima Báñez, assured that companies fight to make Mexico and Spain better, defending social well-being and creating employment, for this legal security, regulatory stability and the quality of the standard are essential and fundamental.
In this sense, the president of the Chamber of Deputies of Mexico, Santiago Creel, highlighted the celebration of this “extraordinary and historic event”, due to the high level of private representation of the two countries, and also made reference to the interparliamentary and binational meeting, recently held in Mexico and which have borne excellent results. Creel also highlighted the power of the word and the competitive advantage we have, thanks to a common language and culture. A good example of this is that there are 5.000 young Mexicans studying in our country. “Mexico and Spain, sovereignty and people, the heart and hearts of what makes a democratic system like the one we have today. What our people have united, no one can undo,” he declared.
CEOE-COMCE collaboration agreement
Within the framework of the Business Meeting, CEOE and COMCE also renewed their collaboration agreement that they had had for years, and the Mexican Council also joins the 24 business organizations that are already part of the Ibero-American Business Council-CEIB. With this agreement, the objective is to develop bilateral trade and investment by promoting knowledge, stimulation and promotion activities that contribute to strengthening ties between Spain and Mexico; and collaborate in holding meetings, seminars and business meetings to promote the increased bilateral trade and investment and technological and service exchange, as well as innovation and sustainability.
The agreement also contemplates the importance of encouraging and promoting the exchange of relevant information on market opportunities, sectors, financing for business development, connectivity, energy, digital transformation, international tenders in infrastructure and tourism, in order to reinforce business, commercial, investment and promotion of bilateral economic relations; as well as trying to implement training and information dissemination actions that allow entrepreneurs to better understand the use of the possibilities offered by both markets.
Program of visits and meetings
During its visit to Spain, the Mexican business delegation will also hold meetings with representatives of the Ibero-American Secretary of State; with the Secretary of State for Commerce; with the Bank of Spain; with Casa de México; with Mapfre; with the Spanish Energy Club; with the Foreign Affairs Commission of the Congress of Deputies; with the Mayor's Office of the Madrid City Council; among other institutions and companies.