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Business for Development in Latin America

Business for Development in Latin America Javier Santiso Deputy Director and Chief Economist OECD Development Centre Organisation for Economic Cooperation and Development Exporta 2007 Sevilla  ICEX June 13-14 2007 1 Spain and Latin America: A Helping Hand 2

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Business for Development in Latin America

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  1. Business for Developmentin Latin America Javier Santiso Deputy Director and Chief Economist OECD Development Centre Organisation for Economic Cooperation and Development Exporta 2007 Sevilla  ICEX June 13-14 2007

  2. 1 Spain and Latin America: A Helping Hand 2 Emerging Multinationals: New Developers? 3 Conclusions

  3. The IBEX 35: A Latin Flavour 60% of Spanish capitalisation Source: Based on Bolsa de Madrid.

  4. Latin America: a helping hand for Spain 30% Source: OECD Development Centre, 2007; based on Annual Reports.

  5. Spain: a helping hand for Latin America Source: OECD Development Centre, 2007; based on Annual Reports.

  6. Spanish multinationals: a helping hand for Latin America Total fiscal contribution Euro 7266 Source: OECD Development Centre, 2007; based on Telefónica Annual Report.

  7. Spanish multinationals: a helping hand for Latin America

  8. Spain has become one of the leading direct foreign investors in Latin America Source: UNCTAD, World Investment Report 2006 Source: Ministerio de Industria Turismo y Comercio de España, 2006

  9. Spanish multinationals have a huge stake in Latin America Source: OECD Development Centre,2007; based on Annual Reports.

  10. …leaving other European firms far behind Source: OECD Development Centre, 2007; based on Annual Reports.

  11. …leaving other European firms far behind Source: OECD Development Centre, 2007; based on Annual Reports.

  12. Spanish multinationals also generate some of the highest employment rates Source: OECD Development Centre, 2007; based on Annual Reports.

  13. 1 Spain and Latin America: A Helping Hand 2 Emerging Multinationals: New Developers? 3 Conclusions

  14. Increasing capital flows south-south connection: Source: UN Comtrade datababase, World Bank staff estimates, Global Development Finance, 2006. Source: Global Development Finance, 2006.

  15. Leaders of this globalisation process are Mexico… Source: OECD Development Centre, 2007; based on América Economía.

  16. …and Brazil Source: OECD Development Centre, 2007; based on América Economía.

  17. Increasing appetite for overseas expansion can also be seen in other countries such as India… Target Nationality Acquirer Deal Value ($m) Corus UK/NL Tata Group 7700 Oil & Gas Assets (Campos Basin) Brazil Oil & Natural Gas Corp 1670 Omnimex de Colombia Colombia Oil & Natural Gas Corp: China Group 850 Oil & Gas Assets (Brazil) Brazil ONGC Videsh 820 Greater Nile Petroleum (25%) Sudan Oil & Natural Gas Corp 783 Glaceau (30%) US Tata tea 677 Shell Development Angola Angola Oil & Natural Gas Corp 600 Oil & Gas Assets (Syria) Syria Oil & Natural Gas Corp: China Group 581 Betapharm Arzneimittel Germany Dr Reddy's Lab 572 Hansen Transmissions Belgium Suzlon Energy 562 Eve Holding Belgium Suzlon Energy 548 Terapia Rumania Ranbaxy 324 Total 15687 Source: OECD Development Centre. Based on Dealogic and local press.

  18. 1 Spain and Latin America: A Helping Hand 2 Emerging Multinationals: New Developers? 3 Conclusions

  19. Globalisation strategies have turned into success stories in Spain, Latin America and other emerging markets. Spanish expansion abroad is moving towards new markets, beyond Latin America: OECD countries and Asia. The region remains however a strategic bet for both old and newcomers. Above all the internationalization of Spanish economy could capitalize on this 10 years of increasing linkages: Spain as a business hub for European corporations operating in Latin America. Spain as a business hub for Latin American corporations operating in Europe. Conclusions: Spain as a Latin American Business Hub?

  20. Gracias!

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