Mission Statement: to assist the integration of foreign residents living in Spain
By John Ensor • Updated: 27 Dec 2023 • 16:10 • 2 minutes read
Flags of the UK, Spain and EU. Credit: Paul Stringer/Shutterstock.com
Despite the many obstacles that threaten businesses and international trade relations, the Spanish Chamber of Commerce remains more optimistic than ever.
In 1886, a visionary group comprising Spanish and British merchants, industrialists, and professionals laid the foundation of the Spanish Chamber of Commerce in the UK. Their primary goal was to foster economic and trade relations between the two nations.
This institution today stands as a pivotal facilitator in the growth and endorsement of trade and investment between Spain and the United Kingdom, playing a critical role in the commercial and economic exchanges between both countries.
Annually, the Chamber hosts over 50 events, attracting high-level attendees from a broad spectrum of Spanish, British, and international corporations, as well as government dignitaries and influential figures from both nations.
These gatherings offer lucrative networking opportunities for delegates from various industries and company sizes.
The Chamber extends its services to both member and non-member firms, aiming to amplify bilateral trade relations. It assists in establishing new business connections and introducing companies to new markets, thereby enhancing Spain-UK trade dynamics.
‘Your Partner After Brexit’ reflects the Chamber’s sustained effort to support a stable UK departure from the EU. The Chamber has intensified its support for its members during and post-transition, providing direct insights from the UK government.
Eduardo Barrachina, President of the Spanish Chamber of Commerce in the UK, states, ‘The Barometer shows again that Spanish companies are here to stay, and that beyond the macroeconomic uncertainties, many Spanish companies have long term plans in the UK.’
However, there are many issues to be addressed, Barrachina commented, ‘. . .the past year was characterised by rising energy prices, inflation, and fears of far-reaching economic turmoil.’ Along with this comes the challenges presented by Brexit, not least the 90-day rule.
The EU restrictions which affect the mobility of people between the two countries is recognised by both sides as a major hurdle for businesses and for people on a personal level. The situation is a headache for all concerned with various calls to relax the 90-day rule.
Fifty-four per cent of surveyed companies reported a continual negative impact of Brexit on their business models, three years after Britain’s EU exit.
Barrachina commented: ‘In spite of these calamities, British-Spanish relations provide us with hope and joy.’ And in a testament to the board’s resilience he added: ‘We never believed the gloom that many predicted. Of course, new issues arose and readjustments were necessary.’
It is hoped that with continued pressure from both the public and businesses alike that common sense will prevail and the 90-day restriction will soon be adjusted for everyone’s benefit.
A majority of surveyed firms foresee an increase in revenue (64 per cent) and plan to augment their investments in the British market in 2024 (53 per cent). Additionally, half expect to expand their workforce in the UK next year.
Despite economic challenges, 91 per cent of surveyed firms reaffirmed the strategic significance of the British market, aligning with recent trends (93 per cent in 2022 and 91 per cent in 2021).
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Originally from Doncaster, Yorkshire, John now lives in Galicia, Northern Spain with his wife Nina. He is passionate about news, music, cycling and animals.
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