New Delhi (India): With the aim to promote bilateral business relations between India and Spain, A delegation led by Spanish Chamber of Commerce visited India. Spain’s secretary of state for trade and Deputy Minister of Commerce Xiana Mendez Bertolo also graced this occasion.
Mendez Bertolo, who was on a two-day official visit to India also co-chaired the 12th Session of India-Spain Joint Commission for Economic Cooperation (JCEC) in New Delhi. In JCEC she joined by her Indian counterpart, Commerce Secretary, Sunil Barthwal.
Both sides celebrated this Golden Jubilee edition of India-Spain Joint Commission mechanism which was established in 1972. During the past 50 years, a remarkable enhancement of bilateral trade and investment has taken place. With an investment of USD 3.7 Bn, 250 Spanish Companies are active in India and 40 Indian Companies are present in Spain working in different sectors such as IT, Pharma, Renewable Energy, Automobiles, Infrastructure etc.
According to the country’s Ministry for Economic Affairs, Spain has one of the lowest inflation rates in Europe. The annual inflation in Spain stood at 3.3 per cent in March, the lowest level since August 2021, according to data published by the National Institute of Statistics (INE).
During her India visit, Spain’s secretary of state for trade and Deputy Minister of Commerce Xiana emphasised the importance of India-Spain relationship and the Spanish partnership in India’s development stories. Spanish side has reaffirmed the further cooperation in the various sectors including in the field of Civil Aviation such as Automation, Surveillance and NavAids, High Speed Railways, Railways networking, Signalling, Traffic management etc.
Both sides also agreed for further cooperation in the field of Renewable Energy, Shipping, Ports, Tourism, Infrastructure, Food Processing, Pharmaceuticals, Technology, Innovation, and Defence sector.
The status of various MOUs were also reviewed including those of important interest for bilateral relations such as MOUs on Migration and Mobility, Agreement on Social Security, Cyber Security etc. Both sides also discussed various Market Access Issues faced by their exporters and agreed to resolve the same through bilateral discussions.
However, on the sideline, Minister Mendez Bertolo also met with the Indian business delegation and discussed the bilateral cooperation and investment opportunities.
Adressing to the media, Spain’s secretary of state for trade and Deputy Minister of Commerce Xiana said, “Delighted to interact with business delegation at India-Spain business conference organised by CII. I thank Confederation of Indian Industries (CII), for organising the India-Spain business meeting. Discussed our growing bilateral cooperation in trade & commerce, investment opportunities for Spanish companies and advantage of doing business with India.”
India- #🇪🇸 #Spain business meet in #Delhi, MOU signed and exchanged between CII and SCC. @SpainInIndia @SpainMFA @SpainTurismo @FollowCII @AfricaWnn pic.twitter.com/8e7s3zV9Zy
— Dr. Shahid Siddiqui (@shahidsiddiqui) April 13, 2023
Confederation of Indian Industry (CII) in partnership with the Economic & Commercial Office of the Embassy of Spain in New Delhi, organised the India – Spain Business Conference on Thursday (13 April, 2023). The Spanish Chamber of Commerce (CAMARA), Spanish Institute for Foreign Trade (ICEX) and The Spanish Confederation of Business Organizations (CEOE) were the other co-partners of this business meet.
In an special talk with WNN, Minister Xiana also said, “India and Spain are looking forward to a considerable progress in the ongoing India-EU FTA Negotiations during the upcoming Spanish Presidency of EU from July to December, 2023.” “Despite slow progress in FTA negotiations, the momentum is good”, she added.
However, Inmaculada Riera, managing director of Spain Chamber of Commerce also highlighted the importance of bilateral trade relations. She said, “there should be both ways investment and knowledge exchange. The time has come where India and Spain can go hand in hand to achieve economic sustainability.”
While Naeciso Casado Martin, Director at CEOE international seconded the statement of Spain Chamber of Commerce. He also emphasised the necessity of mutual bilateral partnership in multiple sectors. He said, “Exchange of information should be the priority in PUBLIC private partnership in creating entrepreneurial institutions. And this can happen only through bodies like Confederation of Indian Industries(CII) and Spanish chamber of commerce.”
At a time when questions are being raised about the status of the #FTA between India and the #Europe, #Spanish Minister said, "FTA is ON, we are "determined" to work together for #economic sustainability." #WATCH the #video #interview 👇🏻of the Minister.https://t.co/j7i67L0Sw8 pic.twitter.com/E9OoZN4HLN
— Dr. Shahid Siddiqui (@shahidsiddiqui) April 13, 2023
Similarly, Spanish business delegation was also very hopeful about the outcome during this visit.
Ignacio Rodriguez Pastor, managing director of TREI-TECNICAL said, “Currently India is a model for the world.
The Spanish side congratulated India on the excellent progress of the Indian presidency of the G20 so far and offered its support and cooperation for the success of G-20 TIWG.
-Dr. M Shahid Siddiqui (PhD), Follow via Twitter @shahidsiddiqui
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