The Minister of Foreign Affairs and Cooperation meets with his Chinese counterpart Wang Yi

Beijing, On his second day in the city of Beijing, Minister García-Margallo met with his counterpart, the Chinese minister of foreign affairs, Wang Yi, who took up this role in March this year.

Both ministers expressed their satisfaction at holding this first meeting following the changeover of power, agreed in the 18th Chinese Communist Party Congress in November 2012 and the March session of the National People’s Congress. García-Margallo and Wang Yi recalled the commitment made between Spain and China to use the consultation mechanism to hold meetings, at least once a year, at a Vice Minister level in the two capital cities.

In the meeting, both ministers agreed on the need to adopt measures to reduce the obstacles to bilateral trade that may exist, with the aim of harnessing the potential for trade as much as possible. The minister pointed out Spain’s privileged status as a member of the European Union and a country that is historically close to Ibero-America and geographically close to Africa, in light of new Chinese investment efforts. García-Margallo reminded Wang Yi of the successful examples of corporate triangulation (REPSOL, TÉCNICAS REUNIDAS) in foreign countries that foster economic complementarity, especially in the areas of equipment supplies and finance.

Wan Yi expressed his satisfaction at holding the Scientific and Technological Cooperation Mixed Commission between Spain and China, held in Madrid on 23 May, which opened the doors to new bilateral cooperation possibilities in the areas of new energies, water resources and environmental technologies.

Wan Yi also expressed his interest in the reforms undertaken by the Spanish Government in tackling the current economic and financial situation throughout Europe. García-Margallo pointed out that the government’s strategy is based on fiscal consolidation, reform of the financial system, recapitalisation of the banks, and structural reforms to increase the productivity and competitiveness of the Spanish economy. These measures are already showing results as reflected in increased exports and the recovery of trust in foreign markets, with Spain being the fourth most attractive country for investors, according to the latest report from Ernst & Young, the “European Attractiveness Survey”.

From a cultural point of view, both ministers highlighted the great efforts undertaken by the Cervantes Institute and the Chinese Cultural Centre, instruments that both countries decided to launch in 2006, which are playing a key role in improving mutual knowledge.

The ministers went over the main topics on the international agenda, such as the situation in Mali, Syria, Iran, North Korea and Ibero-America.

Also in Beijing, the minister held a meeting with Spanish business-owners at the Spanish Chamber of Commerce in China, where he exchanged impressions with the owners of businesses located in China and took a first-hand look at the outlook for business opportunities and the challenges faced in this country. The minister offered all the institutional support necessary to continue expanding the market for Spanish companies in China.