Chile tries to seduce the Spanish protection sector within the face of the deterioration of its relations with Israel | Economy | EUROtoday

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Corporate accountability within the geopolitical context is not one thing that corporations can ignore within the face of world conditions such because the well being disaster, the warfare in Ukraine, and now, the continuation of the warfare battle within the Gaza Strip. This was said this Wednesday by Javier Velasco, the Chilean ambassador to Spain, at an occasion on Brand Management in Complex Environments held this Wednesday in Madrid. “We live in a delicate global situation, we are in the process of so-called selective deglobalization, and it is increasingly important to quantify the reputational drive of people in the market,” Velasco added.

The diplomat has emphasised the important thing function that Spain performs as a central axis of funding within the protection sector given the place that Chile has adopted on the battle in Gaza. In March, the Chilean president, Gabriel Boric, determined to exclude Israel from the International Air and Space Fair (FIDAE), one of the crucial essential occasions within the protection sector in Latin America, through which Israel workouts leverage. clue. “What is happening in Gaza is unacceptable and I would not even think it would be prudent for Israeli companies to come and expose weapons to Chile under these conditions,” Boric then justified in a press convention.

The Chilean ambassador acknowledged this Wednesday the significance of the Israeli trade in Chilean navy spending, from which derives the necessity to discover new companions. “It has been very hard for us to have to ask a country to refrain from attending a fair where so many relationships are woven,” confessed Velasco, who took the chance to spotlight the brand new weight of the Spanish sector within the South American nation. “It is also an opportunity for other partners: it was in that instance that ELS Industries, ITP and Indra sat down to think about what a future could be like where the Israeli sector could share space with other partners.”

Chile, whose navy spending has been reducing in recent times, determined to strengthen the safety finances with 1.5 billion {dollars} (1.37 billion euros) in April. In latest years, the Spanish presence within the nation has been rising. In 2023, it turned the primary vacation spot for Spanish funding per capita in Latin America, in line with information from the Ministry of Economy and Business.

Aerial view of the International Air and Space Fair in Chile.
Aerial view of the International Air and Space Fair in Chile.Trust

Likewise, the ambassador has highlighted the significance of strategic alliances between Spain and Chile as a bridge between China and the Old Continent, and has applauded his nation's latest settlement with the European Union. “Chile is going to be, and already is, a future leader in terms of raw material exports, particularly because we have unique conditions regarding materials such as lithium or zinc,” he famous. “We have become a place of soft-landing [aterrizaje suave] for investment.”

The EU is Chile's third largest buying and selling associate. With the commerce settlement signed final 12 months, it hopes to extend the worth of exports to the South American nation by 4.5 billion yearly, in line with information from the European Parliament.

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