The Canary Islands are proposed as a bridge for investment between Europe, Africa and Latin America | Economy

This Thursday, the CEOE organized the first Ibero-African Business Forum (Ibafcan), an initiative of the employers’ association that seeks to “be a business instrument of support and coordination between countries” in Europe, Africa and Latin America. These were the words of José Alberto González-Ruiz, general secretary of the CEOE employers’ association, at the opening of the conference in Las Palmas de Gran Canaria, which brought together employers’ associations, government representatives and experts from different sectors. “We have both the Government of the nation and the Canary Islands on our side to strengthen this collaboration with the African businessman and in this way promote growth, investment and commercial relations between both parties.”

In this plan, the islands have claimed their own space as a bridge. “We have the capacity to be that tricontinental link and the interest of all parties so that this exchange of projects, knowledge and experience becomes a reality,” said José Cristóbal García, executive vice president of the Canarian Confederation of Businesswomen, a of the two legs of the CEOE in the archipelago.

According to data provided by González-Ruiz, “more than 600 Spanish companies are operating permanently on the African continent and nearly 1,500 companies have some type of commercial activity.” This type of forum seeks to reinforce legal security in these regions with the objective that “these companies double within three or four years.”

The Minister of Finance and Relations with the European Union of the Government of the Canary Islands, underlined in her speech the strategic interest of Africa for the Canary Islands, although she placed the emphasis on “people, on investments in training, because only in this way can we achieve that the improvement, the increase in wealth within its great potential that Africa has is lasting.”

“This forum is essential to connect companies that, in the end, are the driving force of trade and investment,” indicated, for her part, Ana de Vicente, deputy director general of Mediterranean Countries, Africa and the Middle East of the Ministry of Economy, Commerce and Business of Spain. De Vicente added that “Spanish exports to the African continent have been increasing in the last 20 years, but they are still not where they should be” and for that it is key to “emphasize our relations with African governments” and “insist on legislation”.

Agustín Manrique de Lara, technical secretary of Ibafcan, recalled that this is the only institution that the CEOE has outside of Madrid, a strategic base to “play that role as an outermost region, being the gateway for Africa into Europe and the exit from “Europe towards Africa.”

This initiative, which was attended by representatives from eight African countries, in addition to Portugal and Colombia, was promoted a year ago by the Spanish Confederation of Business Organizations, with the support of the Government of the Canary Islands, through the General Directorate of Relations with Africa and Presidency. This forum, based in the Canary Islands, has already allowed, as the organization explains, “to carry out direct trade missions” to Morocco, Mauritania, Cape Verde and Equatorial Guinea, in addition to “reverse missions and high-level meetings.”