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EU economic and business relations with the GCC and their impact on Spain

From April 29, 2022 until May 10, 2022This day of events will be held on Tuesday, May 10, from 11:30 a.m. to 1:00 p.m.
MADRID
Casa Árabe headquarters (at Calle Alcalá, 62) and our YouTube channel. This day of events will be held on Tuesday, May 10, from 11:30 a.m. to 1:00 p.m. Free entry after registering.
In Spanish.

On Tuesday, May 10, the presentation and discussion of the results of the report published by the Exporters and Investors Club will be taking place at Casa Árabe’s headquarters in Madrid, with attendance by the report’s authors and companies which do business in the Gulf countries. You must register in advance.

The Gulf Cooperation Council (GCC) countries (Saudi Arabia, Bahrain, Qatar, United Arab Emirates, Kuwait and Oman), holders of 30% of the world’s oil reserves and producers of 23% of the oil consumed around the world, have long been undertaking reforms to modernize and diversify their economies beyond hydrocarbons and integrate them into the global economy. Together they created a common market in 2008 which includes more than 60 million people, a customs union active since 2015, and a gross domestic product now amounting to $1.6 trillion.

The EU is the GCC’s second largest trading partner after China, and the Gulf countries are the sixth largest destination for EU exports, as well as an important source and destination for its investments abroad.

As for Spain, its exports to the Gulf have doubled over the last decade, with average annual growth of 5.2% in sales to the region, above the average growth of its exports abroad (4.2%). However, it still represents only 6.3% of EU exports to the region, far behind the figures attained by other European countries like Germany, France, Italy and the Netherlands. In this sense, though the GCC has overtaken ASEAN and MERCOSUR as the main destinations for Spanish exports outside the EU, there is still major potential for growth and improvement.

Within this context, the Spanish Exporters and Investors Club, Casa Árabe and Iberglobal are presenting a monograph titled European Union economic and busines relations with the Gulf Cooperation Council countries and their impact for Spain, produced by Tomás Guerrero Blanco, director of the Halal Trade and Marketing Centre of the Government of Dubai, and Gonzalo Rodríguez Marín, director of the IE’s Saudi-Spanish Centre for Islamic Economics and Finance (SCIEF), with the support of Spain’s Ministry of Foreign Affairs, the European Union and Cooperation.

The report includes an analysis of trade and investment relations with the GCC, highlighting their importance for the Spanish economy and companies, while pointing out the business opportunities existing in the region and making recommendations to strengthen and increase the presence of Spanish companies doing business there.

Their results will be analyzed at a round table discussion with the authors, with the participation of companies that have a significant presence in the region, Consultrans and Abengoa. The opening session of the event will be introduced by Casa Árabe’s General Director, Irene Lozano, and the President of the Spanish Exporters and Investors Club, Antonio Bonet, with the closing session given by the Director General of Economic Diplomacy of Spain’s Ministry of Foreign Affairs, European Union and Cooperation, Ana Esmeralda Martínez.


Schedule:

11:30-11:40 a.m.  Welcome.
Irene Lozano, General Director of Casa Árabe.
Antonio Bonet, President of the Spanish Exporters and Investors Club.

11:40-11:55 a.m.  The European Union’s economic and business relations with the countries of the Gulf Cooperation Council and their impact for Spain
Tomás Guerrero, director of the Halal Trade and Marketing Centre of the Government of Dubai and editor of the monograph.

11:55 a.m.-12:30 p.m.  Colloquium: Spanish companies in the Gulf: recommendations for strengthening and increasing their presence in the region
Tomás Guerrero, editor of the monograph.
Julián García Valverde, President of Consultrans.
Germán Bejarano, Director of Institutional Relations and Communication at Abengoa Abenewco.

12:30-12:35 a.m. Closing session
Ana Esmeralda Martínez, Director General of Economic Diplomacy of Spain’s Ministry of Foreign Affairs, European Union and Cooperation.

12:35-1:00 p.m. Coffee and networking break

EU economic and business relations with the GCC and their impact on Spain


Spanish Exporters and Investors Club, Iberglobal and Casa Árabe, with the support of Spain’s Ministry of Foreign Affairs, European Union and Cooperation.