Spanish-Chinese Business Advisory Council to be high-level platform for both governments to strengthen bilateral economic and trade relations

Taking place at the ministerial headquarters and hosted by the Chinese and Spanish Trade Ministers, Zhong Shan and Reyes Maroto, the event was also attended by the State Secretary for Trade, Xiana Méndez, the CEOs of some 30 Spanish and Chinese companies sitting on the council, representatives from the Spanish Confederation of Business Organisations (CEOE), the Spanish Chamber of Commerce and the China International Contractors Association (CHINCA).

The Spanish Minister for Industry, Trade and Tourism, Reyes Maroto, said that "the State visit by the Chinese President represents an historic milestone in our bilateral relations and will provide new impetus for strengthening our economic and trade relations". She went on to add that the creation of this Business Advisory Council "demonstrates a firm commitment from the two governments to openness and free trade rather than protectionist policies; the efforts by Spain - as part of the European Union - and China must be aimed at fostering a revitalisation of the international economy that has created so much social well-being".

It was agreed to set up this council at the Mixed Commission on Economic and Trade Cooperation held in 2015, but no formal meeting was organised until October this year during an institutional visit to Beijing by the Spanish Minister for Industry, Trade and Tourism, Reyes Maroto.

The Business Advisory Council is co-chaired by Francisco J. Riberas (Chairman of Gestamp) and Yi Huima (Chairman of ICBC). 17 Spanish companies and 15 Chinese companies sit on the council.

The work carried out at this first business forum produced a conclusions document that contains a summary of the main barriers that have prevented greater fluidity of exchange or restricted investment until now, as well as proposed recommendations on reducing them.

The council and the business meetings to be held from now on are being called upon to become a major B2B inter-business platform capable of strengthening bilateral relations and increasing trade and investment exchanges based on the successful experiences identified in the future.

Non official translation