Spanish business in the face of the challenge to establish triangular synergies with Latin America and Asia

“One could say that I have gone from being a sceptic of triangulation to being a convert,” stated Jacinto Soler Matutes, author of the study and director of Soler-Padro Hispachina Consultores in the Barcelona presentation of Triangulación Asia-España-América Latina: una visión desde la empresa [Asia-Spain-Latin America Triangulation: A View from Business]. Fostered by the CIDOB Foundation and Casa Asia, the complete results of this research project were presented at the Chamber of Commerce, in an act attended by business people, scholars and journalists. The report, which includes case studies on prominent Spanish and Asian companies, served, in addition, to inaugurate a debate with small and medium-sized businesses on the opportunities that triangulation offers these kinds of firms. 

With an examination of the concrete experiences of Ficosa, Hispano Carrocera, Soluciona, BBVA, Telefónica, Altadis, Samsung, Sony, Huawei and TCS, Soler’s research report showed that there exist very concrete possibilities for establishing business alliances in areas such as banking, telecommunications and automobile manufacturing. The author of the study also emphasised that “Spain must strengthen its presence in its natural markets, such as North Africa and Latin America, so that the Asian companies would have the incentive to gain market quota by passing through Spain”. However, he added that “Spain should attend to questions such as taxation, human resources and logistical connections, in order to bolster its attractiveness as a platform for expanding Asian companies.” 

At the same time, the participants in the debate among the small and medium-sized businesses, with the presence of two of the analysed companies, underscored “the need to improve logistical connections, fiscal attractiveness and bureaucracy (the processing of visas in particular)”. It is a question of Spain’s possibilities in this area “not being displaced by well-taken positions, such as that of Great Britain,” it was insisted. In the debate with the small and medium-sized businesses, it was asserted that Spanish companies must strengthen their technological and design components, in order to differentiate their products from those of Asian firms. Otherwise, “production will inevitably tend to move to countries with cheaper labour,” the participants stated. They also recognised the need to be strong “in generating ideas and promoting education and research to a greater extent”. For this, there exist economic resources, but “political decision is needed in order to carry this out,” it was asserted. 

Finally, the director of Internationalisation of the Chamber of Commerce, Josep Maria Cervera, gave the opinion that, in this area, the university could contribute studies like this one, promoted by institutions like the CIDOB Foundation in close contact with the academic world.