Fri. Apr 19th, 2019

Reyes Maroto urges to strengthen the foreign sector in the face of current changes

Reyes Maroto urges to strengthen the foreign sector in the face of current changes

The Minister of Industry, Commerce and Tourism, Reyes Maroto, has pointed out the importance of "strengthening the foreign sector" in the current context, within the framework of the 50th anniversary of the Association of Internationalized Industrial Enterprises, Amec.

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Amec represents some 350 Spanish companies that generate an export volume of over 6,650 million euros, export an average of 56% of their turnover and invest 4.7% in innovation.

Amec's work "has allowed its members, Spanish companies, mainly of medium size, to compete in a labor market, constantly promoting competitiveness and thus facilitating its internationalization and innovation", assured Reyes Maroto.

Also, the minister said that the internationalization of companies "requires constant support from the Administration to continue taking advantage of the opportunities offered by foreign markets."

In that sense, Reyes Maroto recalled that the Government presented on March 29 in the Council of Ministers the action plan for the internationalization of the Spanish economy for the years 2019-2020.

"The main objective is to continue promoting the internationalization of the Spanish economy, strengthening the dynamism that the foreign sector has, with a positive impact on economic growth and employment, and it is structural because it improves the competitiveness of our companies" , the minister explained.

Regarding the current context, Reyes Maroto has pointed out some of the threats and weaknesses facing the Spanish production model, such as "the small weight that export companies still have, with their small size, since 98% are SMEs, and the content technology of exports, which still has a significant room for improvement ".

In addition, the Government representative has referred to exogenous threats, such as the departure of the United Kingdom from the European Union, China's structural change, which increasingly "focuses its economy more towards consumption", or the increase in measures Protectionists that are applying some countries.

"In the face of these threats and challenges, we urgently need to adopt measures that strengthen our external sector, and we must continue to advance in an internationalization of our economy," the Minister of Industry assured.

In that sense, Reyes Maroto has pointed out the importance of diversification, of increasing the export base, of the added value in exports or of continuing to enhance Spain's ability to attract foreign investment, as well as adapting to the new challenges of digitalization .


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