Satisfaction for the Success of the “Futuro en Español” (Future in Spanish) Working Sessions in La Rioja

Logroño, November 29, 2013 

Guillermo Fernandez de Soto, Director of CAF, Development Bank for Latin America for Europe, stated his satisfaction regarding the success of the "Futuro en Español" (Future in Spanish) work sessions, which took place in the Centro de la Cultura del Rioja(La Rioja Cultural Center) in Logroño, fulfilling all its objectives "by showing the connection between the Spanish language, trade, investment, an journalism, which constitutes a competitive advantage of extraordinary value". 

Fernández de Soto, in the closing ceremony and accompanied by Jesus Gracia, Secretary of State for International and Ibero-American Cooperation, and Rafael Rodriguez Ponga, Secretary General of the Cervantes Institute, noted that  "the opportunities offered by Latin America are evident. Currently, the investments of Spanish companies in the region are estimated at 115 billion Euros. Spain's total exports in 2012-2013 have reached the highest volume in its economic history, among other things, due to the increase in sales to Latin America." 

 "However", he pointed out, "there is an important task to be carried out to increase trade between Spain and Latin America, which has a great potential to grow in sectors such as infrastructure. Latin America needs an annual investment of 180 billion Euros, which implies an increase of investment from 3 to 7 percent of GDP to close the existing gap and not fall behind again".  

For CAF's Director in Europe, "this effort will help improve the competitiveness of Latin America and its insertion in today's world, so it is a task that cannot be postponed."  

Among his conclusions from "Futuro en Español", Fernandez de Soto noted that "Spanish has brought us together in Literature, but is must also serve as a link of opportunities for businesses", and added that "for CAF, Development Bank of Latin America, this strategic alliance with the Vocento group is essential to widen the horizon of the common language, and become a bridge of opportunities, reaffirming the goodness of the Ibero-American heritage." 

In his intervention during the closing ceremony, Jesus Garcia noted that "the Spanish language is universal and unites us with Latin America, but also the economy with Spanish investments and trade, which is growing." Garcia went on to thank CAF for "the support provided to Spain and the Spanish companies which were able to get financing when the international markets were closed".  

At the same time, Rafael Rodriguez Ponga, Secretary General of the Cervantes Institute, stated that "we are living in times where multilingual individuals are created". 

Germán Rios offers opportunities in Latin America 

The first round table of the second workday, dedicated to "Latinoamerica, un mercado para empresas riojanas" (Latin America, a market for companies from La Rioja), included the participation  of Javier Erro, advisor for Industry, Innovation, and Employment in the Government of La Rioja, and German Rios, Director of CAF's Strategic Affairs in Europe, who detailed the sectors where Spanish companies can focus their cooperation, such as "agroindustry, technology, resources, manufactures, services, and energy and infrastructure". 

In his final considerations, Rios explained that CAF's task is to "serve as a bridge between Spain and Latin America", and explained some of the existing examples of cooperation  such as "the loan for USD 300 million to the Spanish ICO, the 100 million for Isolux, and the coming project for the structure of investment funds in Spain and Latin America". 

In addition, he said that "Latin America has an enviable amount of natural resources and an ample growing market: Latin America has managed macroeconomic stability, it is undertaking important reforms, and is joining the world in a pragmatic manner; the region is better prepared than in the past to face adverse external shocks; there are great investment opportunities in the region in many sectors in which La Rioja is competitive, and has extensive knowledge and experience, and CAF supports its member countries and serves as a bridge between Spain and Latin America". 

More information and program: www.futuroenespañol.es