The “Doing Business with Spain” event, held at the residence of the Spanish Ambassador in Malta, Consuelo Femenía Guardiola in Balzan was opened by the Chamber’s President, Agustin Silva Castaño who welcomed the attending thirty-five entrepreneurs and announced that future events will be focusing on particular sectors of interest to both Spanish and Maltese businesses.
“These meetings seek to promote relations between Maltese and Spanish businessmen, members of the Chamber, Maltese investors who might be interested in Spain and Spanish investors interested in setting up in Malta. We want businesses to be informed of the advantages and benefits of commerce and investment, both on a general and on a specific level, in both countries, through the cooperation of companies, public and private institutions, the Commercial Office of Spain, and the Maltese-Spanish Chamber of Commerce,” said the Chamber’s President, Agustin Silva Castaño.
Thanking the Chamber for the initiative, Ambassador Consuelo Femenía Guardiola expressed her delight at having the opportunity to host this important first event in her residence in Balzan. The ambassador reiterated that although trade between the two countries has been experiencing a steady increase over the past few years, there remains room for more business growth and encouraged members to utilise the Chamber and its contacts to facilitate and support such exchanges.
In his presentation highlighting economic figures achieved through business and trade between Malta and Spain, Mr Angel Torres, Economic and Commercial Counsellor from the Spanish Embassy in Rome, noted how in the field of employment, Spain has generated 25.6% of all the employment created in the Eurozone since 2014 ahead of countries like Germany, Italy and Ireland.
In 2018, the value of exports from Malta to Spain amounted to €109.9 million, almost double when compared to the €61.7m registered in 2017. On the otherhand, the value of exports from Spain to Malta amounted to €407.1 million compared to €406.3 in 2017. The majority of exports (28%) came from Catalonia, followed by Basque region (24.5%) and Valencia (22%).
“Spain has become a highly internationalised economy where in 2018, the total imports in Spain amounted to €319 billion. The highest percentage was that of importation of equipment goods (21%) followed by chemicals (15%) and energy products (15%) automotive (13%) consumer manufactures (11%) and food, beverage and tobacco (11%). Other minor sectors include non-chemical semi-manufacures (7%), raw materials (4%) and durable consumer goods (3%).”
The event was followed with a reception where guests ranging from members to prospective members from various sectors had the opportunity to learn more about their respective business activity and establish important contacts.