PRESS RELEASE 053
The Minister of Foreign Affairs, the European Union and Cooperation participates in the Business Council Alliance for Latin America
12/03/2019

​The Minister of Foreign Affairs, the European Union and Cooperation, Josep Borrell, participated today at Casa América in the Business Council Alliance for Latin America (CEAPI).
 
During his speech, Minister Josep Borrell highlighted the priority nature of Spanish foreign policy in Ibero-America, together with the European Union and the Mediterranean; as he pointed out, this is evidenced by the Government's external agenda or the firm support to the system of Ibero-American Summits.
 
Minister Josep Borrell added that for Spain, economic relations with Latin America are systemic in nature and define an integral component of our country's progress, and highlighted, in this respect, that the region has experienced a second consecutive year of growth (1.2% in 2018 and 1.3% in 2017). In this context, he stressed that Spain remains the second largest global investor in Latin America, with an accumulated stock of 138,526 million Euro in 2016, as well as the leadership of Spanish companies in a wide range of key sectors, including energy, infrastructure, transport, the environment, biotechnology, the automotive industry or banking, or the impact for Spain of an internal market with more than 500 million inhabitants.
 
Among the challenges of the region, to which Spain is firmly committed, Minister Borrell stated the contribution to the promotion of legal security - with the signing and renewal of 16 Agreements for the Promotion and Reciprocal Protection of Investments and 14 Agreements to Avoid Double Taxation -, respect for the environment -the 2030 agenda-, or the political and economic stability of our Ibero-American partners with the aim of boosting optimum conditions for investment and commercial relations. As Minister Josep Borrell stressed, these countries have the support of the Government to continue strengthening our investments and commercial exchanges, in particular through instruments such as FIEM, CESCE or COFIDES, all aimed at promoting their internationalisation, or AECID's FONPRODE.
 
The minister also highlighted Spain's firm support for multilateralism and sustainable free trade in order to reinforce these objectives, and pointed to the policy of strengthening and fostering middle-income countries in the region, or the promotion of relations between the European Union and Latin America. In this sense, he highlighted in particular the decisive Spanish stimulus for the EU to have signed free trade agreements with 26 of the 33 countries of Latin America and the Caribbean, as well as the fact that the main challenge continues to be the successful completion of the negotiation process of the EU-MERCOSUR Agreement.
 
Finally, Minister Josep Borrell expressed his best wishes for the success of the 3rd Ibero-American Congress, which will be held in Madrid from 30 September to 2 October, at which more than 450 top-level Latin American and Spanish businessmen are expected to attend.

 

 

-NON OFFICIAL TRANSLATION-

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