Brexit “does not pose any immediate risk for Spanish companies in the United Kingdom”, according to top executives of Spain’s largest state-owned enterprises supporting exportation and business internationalisation. These comments were delivered at the latest thematic session of the Internationalisation Dialogues series, organised by ESADE in collaboration with Gestión Press. ICEX CEO Francisco Garzón, COFIDES President Salvador Marín, and CESCE President Álvaro Rengifo highlighted the importance of the agreement reached between London and Brussels regarding the transitional period in the United Kingdom’s exit from the European Union. The executives conveyed a message of calm, noting that Spanish exports to Britain have not dipped for the time being. “The Spanish administration has not adopted any additional support measures for Spanish companies in the British market,” commented Mr. Garzón. “If any regression were to take place – although this is not expected – such measures would be adopted.”

Enrique Verdeguer, Director of ESADE Madrid, delivered the opening remarks at the session. “In recent years, international trade has been on the rise and the internationalisation of Spanish companies has benefited our economy,” he explained. The representatives of the three institutions, which provide support to Spanish companies that operate in overseas markets, expressed a message of optimism, despite the protectionist measures adopted by US President Donald Trump. “These measures are more for effect than anything else,” commented Mr. Rengifo. Mr. Marín observed that COFIDES has noticed “an increase in demand for financing for investments in the United States”.

The CEO of ICEX highlighted “the cultural shift that has occurred in the behaviour of Spanish companies”, which have begun to consider foreign trade as “a structural rather than temporary element of their business strategy”. He also mentioned the “leap forward in terms of the competitiveness” of Spanish products and services. Finally, he outlined three main lines of strategy: “The incorporation of Spanish companies in global value chains, the promotion of digitalisation, and support to enable companies to develop their full growth potential.”

The President of COFIDES noted that his financial institution, which is attached to the Spanish Ministry of the Economy, “has participated in projects developed by Spanish companies abroad valued at more than €17 billion”. He added that his organisation has introduced a new line of activity after having obtained the necessary accreditation “to manage European Union funds”. Mr. Marín concluded by noting: “We have already managed to get our first project approved.”

The President of CESCE described the three main pillars supporting his organisation’s current strategic plan: “The promotion of the internationalisation of companies and of the insurance organisation itself; a commitment to digitalisation; and a focus on the customer, with new products and services that are customised and more agile.” Mr. Rengifo also discussed the value chain surrounding the credit insurance provided by CESCE, which also supports Spanish companies by offering “information, risk assessment, advice, financing through our business support fund, and debt collection services”.

The session was moderated by business journalist José María Triper.