The Monaco Economic Board is strengthening its economic ties with (…)
Place under the aegis of SE Ms Catherine Fautrier-Rousseau, Ambassador of Monaco to Spain, this mission took place from 13 to 15 October. The high point was an economic forum which took place in the premises of the Confederación Española de Organizaciones Empresariales (CEOE).
On this occasion, first-class speakers gave an exciting overview of the specificities of the Spanish economy and its capital in particular. This sequence made it possible in particular to learn that the Autonomous Community of Madrid has the highest GDP and GDP/capita in the country and that it has the capacity in 2021 for 72% of foreign investment in Spain. The 4th economy of the European Union is also an essential platform for trade with Latin America, most companies in this region and elsewhere have their European headquarters.
The economic rapprochement between Monaco and Spain then materialized with the signing of a memorandum of understanding between the MEB and the CEOE, then by a networking session during which the members of the Monegasque delegation were able to exchange their business cards with important local economic decision-makers. Other more informal events organized during the mission opened other gateways to the Spanish market.
Furthermore, the MEB, in charge of coordinating the public and private entities that contribute to Monaco’s international influence, is always committed to combining its trips with other events linked to the Principality, in a synchronous manner. Thus, this economic mission took place in the wake of a trip by HSH Prince Albert II to Spain, on the occasion of the celebration of the centenary of the death of Prince Albert 1st. A country with which the Sovereign’s great-grandfather had forged many ties, as was mentioned during a very enlightening conference and in which the delegation took part alongside the Prince.
A closeness between two countries that only needs to be strengthened. Thus, the reception of a delegation of Spanish entrepreneurs is being studied for 2023. Because many sectors of activity are likely to increase the economic exchanges generated. In short, it is certainly the beginning of a great collaboration that is just waiting to grow.