Dastis believes Trump’s policy will not affect Spanish companies in Mexico

videgaray-datis

Alfonso Dastis with Luis Videgaray./ Photo: Twitter @AlfonsoDastisQ

 

The Diplomat. 18/03/2017

 

Alfonso Dastis concluded yesterday his visit to Mexico, marked by the consequences of the policies of United States president, Donald Trump, which, according to the Minister of Foreign Affairs, will not have a great effect on Spanish companies in Mexico.

 

Dastis was received on Thursday by Mexican President Enrique Peña Nieto; He met with the secretaries of Foreign Affairs, Luis Videgaray; Economy, Ildefonso Guajardo, and Culture, María Cristina García Cepeda; and shared a breakfast with some twenty of the main Spanish companies established in Mexico.

 

Representatives of BBVA, Santander, Banco Sabadell, Mapfre, Acciona, Sacyr, FCC, Avanzia, Gas Natural Fenosa, Telefónica, Iberia. Indra, Aldeasa, Riu Hotels, Grupo Azvi, Abengoa and Gestamp told the minister how they see the situation facing the possibility of renegotiating NAFTA, the Free Trade Agreement between the United States, Mexico and Canada.

 

According to the minister, as the three economies are very involved, they will make an effort to achieve positive results, which makes companies optimistic about the future, among other reasons, because most of them have their market in Mexico itself.

 

There is greater concern among automobile components companies, such as Gestamp or Grupo Antolín, with six and eight plants respectively in Mexico and which send a good part of their production to the United States. But even in this case, Dastis said they are also optimistic.

 

The minister said that Spanish companies – there are about 5,900 in Mexico – expressed his will to consolidate the investments in the country, which since year 2000 accumulate about 40,000 million dollars. There are also 21 billion dollars of Mexican investments in Spain, which constitutes a true strategic partnership between both countries.

 

Beyond the economic repercussions of Trump’s announcements, Dastis noted in his contacts with Mexican authorities the strength of relations between Spain and Mexico, when the 40th anniversary of the reestablishment of diplomatic relations is about to turn and the Binational Commission will soon meet in Madrid.

 

 

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