The Diplomat
Investment in Latin America is one of the priorities included in the new plan for the internationalisation of the Spanish economy 2021-2022, approved a couple of weeks ago and which was formally presented yesterday at the ICEX by the President of the Government, Pedro Sánchez.
The plan, with which the government wants to give “a new and decisive boost” to the foreign sector, is endowed with more than 4,500 million euros.
As the Minister of Industry, Trade and Tourism, Reyes Maroto, explained at the presentation ceremony, the plan “incorporates 200 million euros from European funds to support our companies abroad, especially small and medium-sized enterprises, new exporters and exporters exploring new markets”.
It also includes the implementation of a non-refundable line for the financing of feasibility studies, feasibility, pre-feasibility and sectoral and institutional modernisation, charged to the Fund for the Internationalisation of Companies (FIEM) and with an allocation of 50 million euros, as well as investments for the digitalisation of exporters’ associations and federations, the Chambers of Commerce abroad, the Spanish Chamber of Commerce and the administration services that promote internationalisation.
Sánchez indicated that now is the time for the Spanish foreign sector to face the challenges pending, which involve exporting goods with greater added value and technological content, and to be more present in markets such as Latin America, Asia and the United States.
In any case, the Government’s intention is to prioritise the Latin American region and, above all, certain countries such as Argentina as a destination for projects and investments.
Sánchez recalled that he will soon visit Argentina and Costa Rica, between 8 and 11 June, to bear witness to Spain’s commitment to the Latin American region and to the “excellent” bilateral trade relations.
The President of the Spanish Government also stressed that Spain is working in favour of free trade agreements with the region, and expressed his confidence that when the country presides over the European Union (EU), in the second half of 2023, the EU-Mercosur Agreement can be definitively concluded, although “hopefully it will be sooner”.
