The Ties that Bind

The ties that bind our countries, Mexico and Spain, are founded on solid bases and multiple aspects, which have been signaled and valued frequently, not only during my recent state visit, but throughout history. Our economic, commercial and business relations are nourished by affinities and shared interests that have grown steadily for the benefit of our societies.

The economic progress that we have generated together represents a clear, positive endorsement of the favorable state of our relations. Despite the economic hindrances experienced in our countries, trade and collaboration remain constant to the maximum level and are bolstered continuously.
In times of international economic turmoil, all efforts aimed at creating value, employment, and promoting business to benefit general welfare are paramount. Our bilateral association acquires special value and becomes mutually beneficial. Spain and Mexico initiated a process of developing commercial and economic relations during the 1990s, which has led to the consolidation of Mexico as a first level commercial partner for Spain. It represents our most important market in Ibero-America and a priority destination for our investments, which has positioned Spain as the second largest investor on a global scale. The bilateral commercial flow between our countries was almost $9.86 billion in 2014.

Mexico is the primary destination for our exports in Ibero-America, the sixth destination in the world after Europe and fifteenth in absolute terms. Spain is the foremost buyer in the European Union for Mexico, and fourth overall. The contribution from Spanish companies is evident when we consider there are 5,300 Spanish businesses operating in Mexico, with more to open in the near future.
Spanish companies generate wealth, employment and become integrated with Mexico and its society. They have a vocation for excellence and leadership, and have a presence in both traditional and innovative sectors in the Mexican economy. Mexican and Spanish companies comprise an excellent binomial unit in terms of work and results.

This compilation of data does not refer only to large companies and well-known investments, as a considerable number of services and products are offered by Spanish SMEs established in the country. In some cases they have been attracted by the success of the large companies, while the visible process of the internationalization of our economy has lured other companies, which is paramount given the current economic circumstances. They represent companies fully compromised in creation of value, employment and opportunities for all, both in Mexico and Spain.

In that regard, we can attest to the high number of Spanish firms in Mexico that have joint strengths and abilities with Mexican partners. The rising interest of Mexican companies to invest Spain is worth highlighting. It represents a very positive sign of the high degree of integration that our economies have achieved. Mexico is the second non-European investor in Spain and the sixth on an international scale. Spain is truly the ideal platform to expand towards the most promising markets in the world. It represents a global reference for infrastructure, and many high-technology multinationals are based in our country. Many Mexican firms have understood this situation and are investing in the country.

The Spanish Chamber of Commerce recently celebrated its 125th anniversary. It has operated continuously in Mexico for over a century and is excellent proof of business cooperation, becoming the cornerstone of our bilateral relations. The Chamber of Commerce has acted as a place for business encounters and promotion, ideal to increase commercial trade, investments and all types of associations between companies in both countries. We have a future full of opportunities ahead, here in Mexico, Spain, and together in the rest of the world. Let us strengthen the excellent momentum our current relations are experiencing and let it continue onwards in every perspective.

Adapted from a speech delivered by HM The King of Spain during his official visit to Mexico in 2015.