The Diplomat
The President of the Government, Pedro Sánchez, yesterday showed the support of the Executive to Spanish companies with a presence in Ecuador, whose number has grown to more than a hundred. Sánchez also backed strengthening the already “excellent” bilateral trade relations and increasing investment.
At the opening of a Business Meeting organised by the Spanish Chamber of Commerce, the President of the Government said that “this meeting reflects the shared intention of both governments to deepen a bilateral economic relationship that has borne successful fruit, but undoubtedly with ample room for expansion, especially at this time of global economic fragility resulting from Russia’s invasion of Ukraine”.
Sánchez, accompanied by the Minister of Industry, Reyes Maroto, and a large representation of Spanish companies, said that “we invest where we trust” and highlighted the commitment of the one hundred Spanish companies in Ecuador, which account for 20,000 direct jobs in this country.
Before representatives of some 300 companies from both countries, the head of the Spanish Executive pointed out that in 2021 Spain was Ecuador’s ninth largest supplier and seventh largest customer, and the second largest among the countries of the European Union. That year, Spanish exports to Ecuador were worth 497 million euros ($495 million at today’s exchange rate), and Ecuadorian exports to Spain were worth 637 million ($634.5 million at today’s exchange rate).
“Spanish companies are the country’s best ambassadors, and they look to Latin America with humility, commitment and good faith,” he said. The President of the Government stressed that Spain and Ecuador are united by very solid ties, such as those that he said also link his country with the whole of Latin America. In his opinion, this region and the Caribbean are increasingly influential, and “neither Spain nor Europe can be understood without looking towards and for Latin America”.
In this context, he recalled that Spain will host a summit of European, Latin American and Caribbean leaders in the second half of 2023, on the occasion of the Spanish Presidency of the EU. A summit that he said “does not make sense” that it has not been convened since 2015, given the importance of the two trading blocs. “It will be a crucial forum that should serve to strengthen ties and shared values,” he concluded.
Sánchez and Lasso later met to continue analysing the relations between the two countries.
