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Spain seeks to increase bilateral trade with India says Spanish Ambassador

Spain seeks to increase annual bilateral trade with India by 20 per cent in the next five years if the world economy does not get into protectionism, Span’s Ambassador to India José Ramón Barañano said at a conference in Kolkata. He admitted that although the relationship between Spain and India is “excellent” but it is very “superficial.” He was speaking to journalists on the sidelines of an event in Kolkata organised by the Indian Chamber of Commerce on Friday.

“The world is now very messy. Some countries in the world are trying to limit exports and imports. If that doesn’t go further…We can have growth of (bilateral trade) 20% per year in the next five years. [It can be done] if the world doesn’t go into protectionism,” said Mr. Barañano. He also said that currently the bilateral trade between Spain and India stands at $6 million per year.

The Spanish ambassador said that the focus in this regard will be on sectors such as tourism, agriculture and education. As for the reason why bilateral trade between the two countries is not up to the mark the Mr. Barañano said that language barrier and distance are key factors in this regard.

“Distance is one factor not allowing us to (boost bilateral trade),” he said. Mr. Barañano argued that the presence of Spanish companies can be increased in India if they can choose the “right local partner.”

“Increasing the visibility of Spanish companies in India is one of my top priorities,” he said.

However, the diplomat admitted that that the task will not be without challenges. “India is a huge market but it’s not without competition. Spain has not been part of it for so many years,” said Mr. Barañano. He also pointed out that two countries do not have any significant historical ties.

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Printable version | Jan 21, 2021 8:05:22 AM | https://www.thehindu.com/news/national/other-states/spain-seeks-to-increase-bilateral-trade-with-india-says-spanish-ambassador/article25075184.ece

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