The Export Club is committed to strengthening trade with Asia and Sub-Saharan Africa
The Exporters' Club, which groups the main Spanish internationalised companies, is committed to strengthening trade with Asia and Sub-Saharan Africa after the pandemic in a report presented this Thursday at a telematic press conference. The document includes a series of measures with the aim of reactivating the foreign sector. Antonio Bonet, president of the organization, has pointed out the exports as a key factor in order to weather the economic crisis that will come in the next few months.
Bonet has been very concerned about the latest export figures published by the Secretary of State for Trade, which indicate that the sale of goods abroad plummeted by 39.3% in April compared to the same month last year. "Internationalization policies must be reoriented. East Asia, Southeast Asia and Sub-Saharan Africa have the best growth figures for 2020 and 2021. Reinforcing the network of Spanish Commercial Offices in this area will be key", explained Bonet. With the aim of reactivating international mobility, the Exporters' Club has called for the re-establishment of air connections and the use of health passports to avoid temporary confinement measures at passenger destinations.
Another of the suggestions contained in the Ten Commandments is that the establishment of subsidiaries of Spanish companies abroad should not be penalised for tax purposes. The Exporters' Club proposes that the deductibility of profits of foreign subsidiaries should not be reduced, that the recognition of deductible expenses on invoices from foreign suppliers should be simplified and that work carried out outside Spain should be exempted. The organisation has also requested that the network of agreements to avoid double taxation be extended.
The Exporters' Club considers it necessary to expand aid for the internationalization of companies through instruments such as the FIEM (Fund for the Internationalization of Companies), the Fonpyme (Fund for Foreign Investment Operations of Small and Medium-sized Enterprises), and a streamlining of the management of public financial support instruments for exports.
They have also recommended extending the guarantee lines of the ICO (Official Credit Institute) and Cesce (Spanish Export Credit Insurance Company) in their amount. Other measures include the recovery of non-refundable aid for Spanish companies to carry out feasibility studies for projects abroad, and the repeal of the 2006 foreign debt law, which has led to considerable bureaucratisation and a slowdown in the procedures for approving public financial support instruments for exports. In addition, the Exporters' Club proposes to favour the contracting of Spanish companies for the execution of development cooperation projects, especially those financed with Spanish funds.