Ministry of Industry, Trade and Tourism addresses challenges of Brexit and global trade tensions with regional governments

During the meeting, Xiana Méndez stressed that "the Spanish foreign trade sector has experienced a major transformation in recent years, with a growing number of companies that export on a regular basis and with a greater penetration in emerging markets".

The meeting served to address tensions over the customs duties imposed by the United States Administration, The State secretary stated that the government is working through the European Union (EU) to support the sectors affected and asked the regional governments for their support and coordination in strategies to promote Spanish products overseas through the ICEX - Spanish Exports and Investment; accordingly, Xiana Méndez stressed the importance of uniting efforts in an internationalisation strategy based on the country brand.

Ministerio de Industria, Comercio y TurismoAs regards Brexit, Xiana Méndez stressed the need to get ready for a no-deal withdrawal by the United Kingdom from the EU (hard Brexit) and underlined that the State Secretariat for Trade has implemented, among other initiatives, a new round of more than 40 workshops to report on the changes in the framework in which trade exchanges will take place in the event of a no-deal Brexit and of the need for companies to get ready for this outcome. The State secretary declared that the United Kingdom "is a priority market for Spain and we want it to continue to be a preferential partner".

ICEX Spanish Exports and Investment implemented in February the so-called "Brexit voucher", a discount on tailored services provided by the Spanish Economic and Trade Offices Overseas, which may amount to up to 80% of the sum of the service offered. In the eight months it has been available, close to 580 tailored services have been provided, of which 370 have benefitted Spanish companies that will need to deal with the new conditions to gain access to the British market.

Furthermore, other bodies dependent on the ministerial department, such as CESCE and COFIDES, which also attended the Council, stressed their support for companies through the "Brexit line of credit" and with specific products and backing for investments by Spanish companies in the British market, respectively.

Internationalisation Strategy and Two-year Plan 2019-2020

The State secretary reiterated the support for companies through the implementation by the government of the "Action Plan for the Internationalisation of the Spanish Economy" for the period 2019-2020, which identifies challenges and opportunities, and also contains specific actions that will support companies in their internationalisation and help them overcome future challenges in an uncertain international environment.

Its aim is to act to foster the internationalisation of the Spanish economy, in its two facets of promoting trade and attracting foreign investment to Spain, by joining forces to make this more effective.

Non official translation