Economy

Spain and China strengthen trade and economic relations

Cámara de comercioIn the setting of the business meeting between Spain and China, the president of the Chamber of Commerce of Spain, José Luis Bonet, and the representative of the General Chamber of Commerce of China, Jiang Ming, signed a collaboration agreement. The purpose of this agreement is to strengthen bilateral commercial relations.

Next, we will see some elements to better understand the scope of the agreement.

Exchange of information and fairs

The agreement has stipulated that the two institutions will exchange, permanently, information about business and commercial opportunities. They will also keep each other informed about the market situation, as well as the laws regarding foreign trade and investment.

Another of the agreed points has been mutual help when organizing fairs, exhibitions or international forums in the field of business, in either of the two countries.

The countries also agreed to collaborate in everything related to registration of trademarks and patents. And this, according to the Spanish authorities, is a fundamental point to be able to enter the Chinese market. The agreement also contemplates reciprocal support to the commercial delegations of both nations, in the search for business partners.

Opportunities for Spanish companies

The Chambers of Commerce of both countries try to play a much more active role in the process of intensifying relations between Chinese and Spanish companies. The representative of the Chinese Chamber of Commerce has stated that Spanish products are a reference for the market of their country, especially fashion and leather goods, the agri-food industry and tourism.

For Spanish companies, China is undoubtedly a priority market and trends suggest that it will be even more so in coming years. The two countries expressed their firm will to deepen bilateral trade relations, through the relationship between their companies.

The sectors that present more opportunities in the Asian country for Spanish companies are: railways, metallurgy, aeronautics, energy, shipbuilding, the agri-food sector and the textile sector, among others.

More than a hundred Spanish and Chinese companies participated in this meeting. They also had the opportunity to conduct individual interviews, to look for investment and business opportunities.

The Silk Road

The Chinese authorities have expressed their interest in intensifying trade with the West and mainly with European countries. And the Silk Road has been a clear demonstration of it; this is undoubtedly one of the main trade routes between Asia and Europe.

In this regard, the president of the Chinese Chamber of Commerce has stressed that Spain is a priority destination for the Silk Road.

A new growth model

The Chinese Government promotes a new growth model based on domestic demand. The president of the Chamber of Commerce of China said that his country is leaving behind its image of “world factory” to assume the consumer market.

In the Asian giant, domestic demand is huge and has an annual growth of 10%. This expansion of the purchasing power of the middle class is a powerful stimulus for the economy. The new model, as well as a greater commercial opening of the country abroad, is a great opportunity for Spanish companies.

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