The well-off will be put to work. Santander, BBVA, Telefónica, Inditex and Mapfre have been tasked to assist the ICEX (Consejo de Orientación Estratégica del Instituto Español de Comercio Exterior), a group that will act as a vehicle for the small and medium-sized Spanish companies in the foreign market. They will not be the only ones to help. The Secretary of State of Commerce wants nine Spanish multinationals to act as a top advisory body for the Institute so that its knowledge and experience can help Spanish economy to approve the never-ending issue of our internationalization policy: to support pymes, exports and investments in the foreign sector.
This incentive from the Business Administration is part of the Government's strategy for increasing the foreign presence of Spanish companies at a time when exports and tourism are the only sectors supporting our ailing economy. Companies with an international presence are enduring the crisis best of all, because profits reaped outside the country are offsetting losses piling up inside.
Several other factors are encouraging the Spanish government to focus on the exterior. Demand for products and services in Spain continue to decline in 2012. This danger is compounded by slowing exports caused by recessions in other EU nations. 68% of Spanish production goes to foreign exports.
The Ministry of the Economy, through the Secretary of State of Commerce, has assumed the direction and control of all internationalization policies and the promotion of the Spanish brand. Other Ministries are involved in this effort, particularly the Ministry of Foreign Affairs that, initially, was trying to take the initiative to call a meeting of the biggest companies that do business outside of Spain. These circumstances caused clear discord in Luis de Guindos' department. Minister of the Exterior José Manuel García Margallo called the meeting with companies and invited Minister of Public Works Ana Pastor and Secretary of State of Commerce Jaime García-Legaz.
Spokesmen from De Guindos' department believed it was "very positive" that Foreign Affairs had bet on "economic diplomacy and that our diplomats would dedicate themselves to fostering Spanish companies' ability to grow their business outside of Spain." Other ministries involved in increasing demand for Spanish exports will be Public Works, Agriculture, Industry, Defense, Culture and Healthcare. The public company P4R will be the major instrument for backing exports for these new industries and services.
