Pedro Sánchez calls for inclusive and sustainable growth to strengthen democracy and enhance progress in Latin America

Intercontinental Hotel, Madrid

The forum, co-presided by the former Presidents of Chile and Brazil, Fernando Henrique Cardoso and Ricardo Lagos, respectively, seeks to strengthen ties of cooperation between different Spanish and Portuguese-speaking societies, analyse new perspectives for their political, economic and social development, and boost the cultural identity they all share. This edition will serve as a point of reflection on issues of common interest such as the digital economy, climate change, gender equality and the emergence of such phenomena as populism and nationalism.

During his speech, President of the Government Sánchez called for the democratisation of institutions as the main value to exiting the economic crisis of the last decade, a crisis which "is not only measured in economic terms and social losses, but also in political terms in the weakening of democracy". The President of the Government considered that it is very important "to once again tie prosperity and democracy in", because "the fairer the distribution of wealth, the stronger democracy becomes and the cornerstones on which it is built", pointing to such values as equality and justice that "offer the anti-bodies to society against the virus of authoritarianism" and that social inclusion "forces us to think of the need to re-build a social pact that has been broken as a result of the crisis". Along this line, Pedro Sánchez urged leaders and business owners attending the forum to sign up to the government's commitment to the 2030 Agenda and the Sustainable Development Goals to offer a global and regional response and to work towards a more prosperous, but also a more inclusive and sustainable Latin America.

Trade relations and strategic investment

Pedro Sánchez placed special emphasis on trade relations between Spain and Latin America, underlining the growth in the presence of Latin American companies in Spain, with investments that have risen to 37 billion euros, triple the figure six years ago. He also highlighted Spanish exports to Latin America, which rose to 10.5 billion euros by August this year, thus placing Spain as the second largest global investor and the largest from Europe.

The President of the Government thanked Spanish companies for their work in Latin America, their vocation to stay and their contribution to economic development in the region, with an investment stock in excess of 120 billion euros and almost 800,000 jobs created there. Pedro Sánchez stressed that "behind these figures lie prosperity, jobs and social cohesion". These figures clearly "highlight the strengths of Spain for Latin America, not only as a gateway to the European Union, but also to North Africa.

The President of the Government reaffirmed the central and priority role that Ibero-America occupies in Spanish foreign policy and, in particular, the Government of Spain's commitment to Latin America, something he personally conveyed in his first tour of the continent in August. In order to extend this dialogue, the President of the Government will attend the Ibero-American Summit to be held in Antigua, Guatemala, on 15 and 16 November.

Non official translation