The Exporters' Club analyses the opportunities for Spanish companies in the Gulf States

The Exporters and Investors Club, in collaboration with the consultancy firm Iberglobal, has analysed the opportunities that Spanish companies have in the six countries that make up the Gulf Cooperation Council (GCC). The event was attended by the Spanish Embassy, the Spanish Trade Office and the Spanish Chamber of Commerce in the United Arab Emirates.

The GCC is made up of the United Arab Emirates, Saudi Arabia, Qatar, Kuwait, Bahrain, Oman and Kuwait. It brings together more than 60 million people with a per capita GDP of more than 34,000 dollars and functions as a Customs Union thanks to the process of economic integration and fiscal harmonisation that they are undergoing. Spain contributes 6.3 per cent of EU exports to the region, a far cry from other neighbouring countries. 

"The GCC countries are immersed in a process of transformation with important reforms to modernise their productive fabric and liberalise their economies," stressed Tomás Guerrero, director general of the Halal Trade & Marketing Centre. "This situation favours the relations of Spanish companies in the market, which until now have been very marked by dependence on the hydrocarbon sector," he added.

In his speech, Tomás Guerrero pointed to sport, culture and tourism as vectors of opportunity to achieve a greater presence in the region. He also stated that "reviewing the visa policy and improving the Golden Visa programme" and "highlighting the value of Halal certification in food, increasing the base of this type of company" could be a good way to improve relations with the region.

The conference organised by the Exporters' Club also served to analyse the opportunities arising from the Dubai World Expo, which has been held since last October and will end next March. 

In this sense, the economic and commercial counsellor of Spain in the United Arab Emirates, Andrés Salinero, highlighted the presence of Spanish companies that have collaborated in the creation of the different spaces: "From the commercial office we have counted the participation of more than 40 Spanish companies, especially in architecture, design and audiovisual tasks. Furthermore, our country is behind the construction of the two main pavilions on the site, apart from the Spanish pavilion," he said.

Salinero defended the programme of activities of the Embassy and the commercial office at the Expo to attract specialised public and promote business relations in the Spanish pavilion: "Our work is helping to bring national companies closer to the country, showing everything we have to offer. The support of the institutional visits we are receiving is fundamental to consolidate the country's image in a global event such as the Expo", he concluded.

For his part, the Spanish Ambassador to the United Arab Emirates, Íñigo de Palacio, stressed the importance of the visit of the President of the Government, Pedro Sánchez, to the country in recent weeks. "This is the first visit by a Spanish head of government in the last ten years, so it marks a before and after. The fact that he has been received at the highest level shows the good state of relations between the two countries", he stressed. 

De Palacio focused on the Joint Declaration signed by President Sánchez together with the Crown Prince of Abu Dhabi, Mohamed bin Zayed al-Nahyan, as well as with the Emirati Prime Minister and Emir of Dubai, Mohamed al-Maktoum, in which the sectoral areas of cooperation between Spain and the UAE are reviewed, with the intention of expanding them in the future. The ambassador also highlighted the importance of the signing of an MOU between the Emirati sovereign wealth fund Mubadala and Cofides.

The meeting, which was held online, was also attended by representatives of FOCE and Cosentino, two Spanish companies with extensive experience in the region, who offered recommendations and advice for small and medium-sized companies wishing to start up in these countries. 

Jesús Jimenez, CEO of FOCE, highlighted the opportunities that are being generated in the service sector and the production of consumer goods and equipment. He also highlighted the promising future of countries such as Oman and Qatar. In his opinion, "it is time to recover the notable presence of Spanish business in the region, just as we had during the late 90s and early 2000s".

For her part, Miriam Llano, Cosentino's Middle East Marketing Manager, highlighted the good image that the Spanish company enjoys in the region: "They see us as agile companies with a broad knowledge of know-how". However, Llano pointed out that the market is very competitive and short term, which, in his opinion, obliges Spanish companies to "sell themselves very well" and take charge of commercial relations first hand: "In a country where gestures are so important, it is essential not to delegate negotiations to an external agent", he concluded.

The conference organised by the Exporters' Club and Iberglobal was brought to a close by Ana Esmeralda Martínez, Director General of Economic Diplomacy of the Ministry of Foreign Affairs, European Union and Cooperation, who wanted to highlight the good work of Spanish companies and the opportunity that these countries represent for us due to the process of economic transformation that they are undergoing. Martínez also highlighted the "diversification of trade relations" between Spain and the GCC countries.