The Diplomat
The president of CEOE International, Marta Blanco, met this week with the ambassador of Gabon in Madrid, Patrick Arthur Moukala, who is also the dean of the group of African ambassadors accredited in Spain.
During the meeting, which was held last Thursday at the headquarters of the employers’ association, Marta Blanco presented the ambassador with the next steps of the Spain Africa Business Council, an initiative launched at CEOE on 3 July and in which the ambassador himself participated on behalf of the African Embassies in Madrid.
Likewise, according to CEOE, the bilateral economic relations between Spain and Gabon were analysed, as well as the way to boost business cooperation between both countries, especially in sectors such as infrastructure, tourism or renewable energies. To this end, it was agreed to continue working together.
Gabon’s economy has shown a constant development of 2.4% on average over the last 10 years, with a growth forecast of 2.7% according to the African Development Bank for 2023.
Bilateral trade relations between Spain and Gabon show a historical trade surplus in favour of Gabon due to the import of hydrocarbons from the African country. Currently, Spain has a negative balance of 134 million euros and a coverage of 25 per cent. Although Spanish investment in the country is still limited, there are companies present in the infrastructure, water, tourism and consultancy sectors.
