“To be more competitive and resilient, internationalization is necessary”

Interview with Marta Blanco, president of CEOE International

On the occasion of our monographic report “21st century, Two decades of success in Spain's foreign business”, we continue interviewing representatives of entities that have a lot to say in the field of internationalization. It is the turn of Marta Blanco, president of CEOE International.

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The 2021st century has brought about unprecedented development of the Spanish foreign sector; Exports in 2,5 are 2001 times higher than in 27,04. They now represent 18,58% of Spanish GDP, when at the beginning of the century they represented XNUMX%. From the point of view of CEOE International, what have been the keys and protagonists that have led us to this good data? 

 

Martha White: “As you mention, the evolution has been impressive. And if you ask me about keys and protagonists, I would say that If there is any protagonist, it is the companies, those that have contributed to the foreign sector having this weight in the economy. and if you ask me for the keys I think that The fundamental key has been public-private collaboration. 

 

In these years we have witnessed a structural change, in which the foreign sector has become an engine of growth and job creation, and it has been through exports, and these exports have been carried out by Spanish companies.

 

What role have the crises - that of 2008 and that of Covid - played in the internationalization of the Spanish economy?

 

MB: “In my view, work began before 2008 and there was a consensus that internationalization means being more competitive. That internationalization-competitiveness binomial was beginning to take hold, both in the public and private spheres. But it is true that In 2008, a turning point occurred as a result of the crisis. Many companies chose to internationalize, to seek opportunities in foreign markets. And there was that substantial increase that you mentioned in our country's exports. Also from that moment on, one of the fundamental imbalances of our economy began to be corrected, which was the current account deficit. I think that in 2008 that turning point occurred.

 

What has happened now with the crisis caused by covid is a little different, it is not so much that companies have chosen to internationalize more, but that despite the covid-19 crisis, companies have continued to opt for internationalization. Proof of this is that not only do exports continue to increase, after the slowdown during the pandemic, but the number of regular exporters has also increased.

 

Despite this, companies have continued to export and look for opportunities in international markets, which by the way are increasingly full of difficulties, but opportunities also exist. So what is that telling us? Well, that strategy that emerged in that way is now a strategy that is already consolidated: that To be more competitive, to be more resilient, it is necessary to internationalize and operate in international markets.".

 

CEOE is a business organization with a long history (it was founded in 1977), although it was not until 2018 when it created CEOE International within it. What milestones would you highlight in this international area since its creation? 

 

MB: “2018 is the year that Antonio Garamendi assumes the presidency of CEOE, who was very clear that the importance of the foreign sector was acquiring as an engine of economic growth, it was important that it be reflected in CEOE's own organic structure. 

 

It is true that international was an area that was already being worked on within a department that had other functions. With the new presidency, what is wanted is a department that will be dedicated intensively and exclusively to supporting companies in their internationalization process. We were seeing this because more and more CEOE partners were interested in internationalization and also because there were more and more partners who wanted to be part of the International Relations Commission that I have the honor of chairing within CEOE. It has been a natural evolution; work was being done but it is true that now there is a department that is exclusively dedicated to internationalization.” 

 

In 2022, it will be 20 years since the euro was put into circulation. How has the single currency influenced the strengthening of the Spanish foreign sector?

 

MB: “It is true that we are celebrating the anniversary of the euro, indeed. The entry of the euro had many implications; a fundamental one is that affected interest rates. We had lower interest rates and that allowed companies to become stronger and more competitive. But in the field of the foreign sector, I believe that 2008 is the year where that circumstance occurs that gives rise to that turning point that we mentioned." 

 

Two decades have meant many changes when it comes to doing business on the international stage, what will the future hold for us? 

 

MB: “If there is one thing that is clear, it is that There is going to be a lot of uncertainty. That is the most complicated part, decisions will have to be made in a very uncertain environment and circumstances, but at the same time it is true that there will be many opportunities. Maybe it won't be so easy to identify those opportunities, but I think new ones will emerge. I believe that internationalization and the foreign sector will continue to have key importance in the Spanish economy.

 

I would like to add that in the area of ​​these new opportunities, it is also very important to work with companies from other countries and with business organizations from other countries. At CEOE International we always mention that the business communities of different countries have a common agenda. We do this with our membership in business networks such as Business Europe, Business at OECD, the B-20 within the framework of the G-20, and some more. It is essential to align agendas between all companies in all countries, precisely to incorporate all these new opportunities and power, through appropriate regulatory frameworks, benefit from all the opportunities that companies may have abroad. 

 

So the future is uncertain but also with many opportunities that, thanks to the collaboration between everyone and with governments and others, we will be able to take advantage of.”