Business & Economy

Spain PM advocates for stronger presence in international markets

Madrid, May 26 (EFE).- Spanish Prime Minister Pedro Sánchez said Wednesday his administration will push for a stronger presence of Spanish companies in American and Asian markets, with increased high-tech exports.

During the presentation of the Plan for the Internationalization of the Spanish Economy 2021-22, he advocated for encouraging more companies to export and boosting the growth of SMEs unable to do so.

The proposal will mobilize 4.5 billion euros to boost Spanish participation in multilateral trade and counter “protectionist attitudes.”

Sánchez said that the EU-Mercosur trade agreement will be a priority for Spain’s rotating EU presidency in the second half of 2023, but he hopes the agreement will be signed before then.

The plan stands on six main axes, from supporting international ventures and digitalization of companies to developing talent, making use of international agreements and institutions, and coordinating efforts with all parties involved in international business.

It will also focus on attracting and maintaining foreign investment, with new announcements in this regard coming soon, Sánchez said.

The budget for the project includes 200 million euros sourced from the EU’s Recovery and Resilience Facility, which could grant up to 9 billion euros to the Spanish government to mitigate the economic impact of the Covid-19 pandemic. EFE


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