September 10 (EUROPA PRESS) –
The President of the Government of Spain, Pedro Sánchez, highlighted this Tuesday the economic growth of Spain and its “open and competitive” business environment during his speech at the inauguration of the Spain-China Business Meeting held in the city of Shanghai.
“Few countries offer such favourable investment opportunities in an open and competitive environment as Spain does. And let me give you three reasons. The first is that Spain is the fourth largest economy in the Eurozone. It is currently growing at a rate higher than that of its European partners. In the second quarter of this year we quadrupled the average growth of the European Union and also of the Eurozone,” said Sánchez.
He then recalled the country’s “strategic location”, which serves as a “natural bridge” between Europe, Latin America, the Caribbean and North Africa, as well as its “dynamic” business ecosystem and its “highly qualified” human capital, with the aim of encouraging Chinese investments and balancing the trade balance between both nations.
“Although China is our first export market in Asia, it also represents 90 percent of the Spanish trade deficit in 2023 with China. There is, therefore, a wide margin to intensify and balance our trade relations, and we want it to be that way. But it is in the field of investments where I think there is a problem. Of course, it is excellent news that there are more and more Spanish companies investing in China, but I also think that Spain represents a great active act for investment and I am pleased that there are more and more Chinese companies that achieve this,” he added.
The Spanish leader has urged Chinese and Spanish businessmen to cooperate in the sectors considered to be “fundamental axes” of the two countries, which are the green economy, technology and advanced industry, with the aim of creating “wealth and jobs.”
He also spoke about the orientation of the Spanish economy towards “innovation, digitalisation, decarbonisation”, which makes Spain an “attractive destination” where companies can “innovate and respond quickly to market changes”.
“But we do not want this relationship to remain limited to bilateral exchanges. We aspire to continue expanding it into third markets. Spanish and Chinese companies already act as global partners and combine their capabilities, for example, in Latin America. I am convinced that we must boost our cooperation in markets with enormous potential, such as the Asian and African continents,” added Sánchez.
He also stated that the current needs of China, which is placing emphasis on increasing domestic consumer demand and promoting the digital technology sector, urbanisation, rural modernisation and clean energy, represent “great opportunities for Spanish companies”, although he also pointed to the consumer, food and industrial technology sectors as sectors in which to expand Spanish exports.
EU-CHINA RELATIONS
As he had done previously, the Spanish president has called for an “honest dialogue” between China and the European Union to “redirect existing tensions” caused by the imposition of tariffs on Chinese electric vehicles and the import of pork and other goods by Beijing.
“We also want a European Union and a China that are open to the world, beyond geopolitical and geo-economic realities. (…) What we are ultimately advocating is a negotiated and agreed solution within the framework of the World Trade Organisation, which helps to develop balanced and fair economic relations and avoids any type of trade escalation that would benefit no one,” he said.
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