Madrid, July, 13, 2017.- The National Bank for Foreign Trade (Bancomext) and the Compañía Española de Financiación del Desarrollo, COFIDES, SA, SME have signed a cooperation agreement with the goal/aim of increasing trade and investment flows between Mexico and Spain.
Mainly, it seeks/intend to promote good practices, strategic alliances, business cooperation and the involvement in investment projects where there are Mexican and Spanish interests.
The signing of the agreement, which was carried out at the Spanish Ambassador’s Residence in Mexico, provides the opportunity for the products and financial instruments of both institutions to be used in a complementary way to better serve the potential investment projects.
Additionaly, under the agreement, joint efforts will be made to develop specific financial instruments.
The agreement was signed by Bancomext’s managing director, Francisco N. González Díaz, and COFIDES Chairman, Salvador Marín, having as esteemed witness the Spanish ambassador in Mexico, Luis Fernández-Cid.
The signing of this project is part of Bancomext´s market diversification strategy to continue expanding the institutional network in favour of Mexican foreign trade.
COFIDES is a combined private-public concern, which since 1988 has provided financial support to Spanish enterprises abroad. COFIDES manages the FIEX and FONPYME funds on behalf of the State Secretariat for Trade, within The Ministry of Economy, Industry and Competitiveness. The stockholders include the Bank of Bilbao Vizcaya Argentaria (BBVA), Santander Bank, Popular Bank, Sabadell Bank and CAF (Development Bank of Latin America).