Ibero-African Association of Chambers of Commerce (AFRICO) has been established

The Diplomat The Spanish Chamber of Commerce yesterday hosted the act of establishment of the Ibero-African Association of Chambers of Commerce (AFRICO), created with the aim of strengthening the commercial relations and links that already exist between the European, African and Ibero-American continents. AFRICO has the participation of the Spanish Chamber of Commerce, the Portuguese Chamber of Commerce and the Federation of Chambers of West Africa (FEWACCI) which brings together the chambers of 20 African countries. At the act of establishment, José Luis Bonet, president of the Spanish Chamber, stated that “the Chambers of Commerce are called to lead the relations with Africa, which are acquiring a great strategic value and which still have a long way to go.” “The world geopolitical map - he added - is changing rapidly and becoming increasingly polarised around the United States and China. The European Union has to strengthen its position in the world and can, and should, do so through Africa and Latin America, with Spain and Portugal as a natural bridge.” For his part, Luis Padrón, president of the Chamber of Commerce of Gran Canaria, where the association's headquarters will be located, stressed that AFRICO is a project that aims to mobilise the Spanish and Portuguese business community towards Africa. Padrón indicated that the project is inspired by the success of the Ibero-American Association of Chambers (AICO) and stated that its objective is to “capitalise on European funding opportunities, such as the Global Gateway programme, and strengthen relations between the private sector and African governments.” Along these lines, he pointed out: “The opportunity cost of not being in Africa is too high, and our association will work to ensure that our companies are not only present, but that they lead growth and development on the continent.” Aminou Akadiri, Secretary General of the Federation of West African Chambers (FEWACCI), underlined the ambition of cooperation and progress represented by the constitution of AFRICO, “providing - he said - a platform for trade between West Africa and Europe, and for collaboration with Latin America” that allows “to take advantage of business opportunities” and releases the full “potential of our markets.” He also recalled the need to promote direct transport connections between the African continent and Europe. Nuno Pinto de Magalhães, Vice President of the Portuguese Chamber of Commerce and Industry, highlighted the strengthening of public-private collaboration that the association represents, and the impact that the union between the Chambers of Portugal, Spain, and West Africa will have, “for the benefit of our companies, and also in the lives of citizens.” At the closing ceremony, Julián Conthe, Director General of Trade Policy, reiterated the commitment of the Secretary of State for Trade “to this initiative, which will promote - he said - internationalisation and sustainable economic growth through support for companies and the strengthening of trade ties between our continents”. Conthe stated that “Africa is a priority region for Spain and we have recently launched the Africa Advances Alliance, which seeks to create new opportunities for investment by Spanish companies on the African continent while promoting its sustainable development and job creation in this region. Collaboration with the Chambers of Commerce and AFRICO will be essential to achieve these objectives, generating synergies and sharing experiences”. AFRICO seeks to play an active role in consolidating economic and trade relations between Spain, Portugal and Africa, promoting relations between companies, facilitating the exchange of experiences and information, encouraging cooperation in development projects, identifying business opportunities and promoting investments, establishing communication with multilateral organizations and promoting legal security in trade relations in the region, according to the Spanish Chamber of Commerce.

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