Madrid, 12 March 2019.- Compañía Española de Financiación del Desarrollo, COFIDES, S.A., S.M.E. took part in the Spain-Mexico Business Gathering held in Mexico City from Monday 11 March to Wednesday 13 March to promote business cooperation. The event, opened by the Minister of Industry, Trade and Tourism, Reyes Maroto, featured the presence of COFIDES chairman and chief executive José Luis Curbelo, who engaged in the second block of plenary sessions on project financing in Mexico.
In addition to the chairman, COFIDES deputy director of Operations Miguel Ángel Ladero also participated in the seminar entitled ‘Doing Business in Mexico’ held at the Economic and Trade Office of the Spanish Embassy in Mexico City.
The meeting was organised by the State Secretariat for Trade, through ICEX España Exportaciones e Inversiones, together with the Spanish Confederation of Employers’ Organizations (CEOE), the Spanish Chamber of Commerce and the Mexican Business Council for Foreign Trade (COMCE), and drew Spanish and Mexican companies from a range of sectors including food, automotive, energy, infrastructures and IT.
Mexico is the world’s 15th largest economy and the second-largest in Latin America. It has an open and stable economy, with no major macroeconomic imbalances and sustained growth. For Spanish companies, it is the largest market in Latin America, the fifth-largest outside Europe (after the US, Morocco, Turkey and China) and the 13th largest in absolute terms. The strong presence of Spanish companies in various strategic sectors such as finance, energy, renewables, tourism, real estate, infrastructure and telecommunications makes it a major driver for Spanish SMEs.
Mexico’s network of trade treaties provides access to the world’s leading economic regions (43 countries) and a potential market of 1 billion consumers. In terms of investment, the country is second only to Brazil as the main destination for foreign investment in LATAM, and Spain is the second largest investor after the US.
COFIDES representatives used the trip to see for themselves the progress of various projects the company is financing in Mexico and to meet with several firms interested in learning about the funding possibilities it can offer them.
COFIDES is a public-private partnership that since 1988 offers financial support to the investments of Spanish companies abroad. Exclusively manages the FIEX and FONPYME funds on behalf of the Ministry of Commerce, attached to the Ministry of Industry, Commerce and Tourism. Banco Santander Banco Bilbao Vizcaya Argentaria (BBVA), Banco Sabadell and CAF-Banco de Desarrollo de América Latina also participate in its shareholding.
