1. Skip to navigation
  2. Skip to content
  3. Skip to secondary content

Latino Daily News

Wednesday March 20, 2013

Spain Sees its Investments in LatAm as Secure

Spain Sees its Investments in LatAm as Secure

Photo: Latin America

Click Here to Enlarge Photo

Spain’s top official for relations with Latin America said Tuesday that the investments of Spanish companies in Latin America are safe despite the problems in specific countries such as Argentina and Bolivia.

In remarks made in Barcelona, where he is scheduled to meet with representatives of firms that have investments in Ibero-America, including Abertis, Agbar and Gas Natural, Jesus Gracia said that Spain is the second-largest investor nation in Latin America.

The countries of the region respect the legal security of foreign investments, including Spanish ones, the secretary of state for International Cooperation and Ibero-America said.

Gracia said that, despite the conflicts between Spanish oil company Repsol and the Argentine government or Bolivia’s nationalization of Abertis subsidiary Sabsa, in general Spanish investments in Latin America are safe and “the outlook is good.”

Also, he expressed his wish for the existing conflicts to be resolved with satisfactory agreements for all parties.

Meanwhile, Gracia said he supported a foreign policy to strengthen Spain’s diplomatic and commercial presence in the emerging countries of Asia and Latin America, despite the general context of budget cutbacks.