MADRID, Spain – The global economic downturn has made Asia the focus of more attention from many countries in Europe due to the region’s resilience and consistency as far as financial systems are concerned. While no country can exactly isolate itself from the effect of foreign shocks especially in this age of global economic interconnection, many Asian nations have shown relative stability, continuing to post growth. The Philippines is one such country that has managed to ride out the wave of the global turmoil, posting four consecutive quarters of economic growth by over 7 percent.
One of our friends in the investment banking field described the Philippines as an Asian country that offers the best macroeconomic prospects, now regarded as an economic leader in Southeast Asia. A survey among foreign executives acknowledged the Philippines as the country having shown the most improvement as an investment destination, but that does not automatically translate to bigger investments or expansions however. For instance, Spain – whose economic problems are prompting more companies to explore Asia – has more robust trade relations with Singapore and Thailand.
I’m currently in Madrid as a guest of Thai Ambassador to Spain Kulkumut Singhara na Ayudhaya who was previously posted in the Philippines. The Thai Ambassador – one of the most popular and well-liked Thai ambassadors in the country – is fluent in Spanish having obtained his Master in International Relations at the University of Madrid’s School of Diplomacy. According to the Ambassador, trade between Spain and Thailand have been very good, with the latter being the European Union’s third largest trading partner in the ASEAN region.
The EU-Thailand Free Trade Agreement was formally launched last March, following an earlier political deal on a partnership and cooperation agreement. More and more Spanish tourists have also been visiting Thailand in the last five years, with over 100,000 Españoles visiting the “land of smiles†and “kitchen of the world†in 2012. Bangkok actually has surpassed London as the most visited capital city in the world, attracting close to 16 million visitors annually.
In contrast, the Philippines has only been able to attract 14,000 to 15,000 Spanish tourists. Our ambassador to Spain Charlie Salinas tells us we need to promote the country aggressively due to the Spaniards’ lack of knowledge about the country and what it has to offer – which is ironic considering the long historical ties shared by both countries, with over 60,000 Filipinos now living and working in Spain.
A lot of groups have been working to strengthen Philippine-Spanish ties, among them the Instituto Cervantes-Manila, a non-profit organization established by the Spanish government which has been sponsoring the training of Filipino teachers in the Spanish language – much to the appreciation of Spanish Queen Sofia during her visit in July last year. Our close personal friend Don Pepito Rodriguez (who is with us in Madrid) even came up with “Berso sa Metro†where popular Spanish verses (written by Spanish and Filipino poets) with their Filipino translations are featured inside MRT and LRT trains where thousands of commuters can read them.
Early this year, a high level dialogue for cooperation between the two countries was held. Spain’s former Defense Minister Jose Bono who was a member of the Spanish delegation hit it right on the nose when he described the relations between these countries as comparable to a tree where there are “more roots than fruits,†adding that the potential for closer partnership and cooperation has not fully blossomed.
Spain ranks as the Philippines’ 28th largest trading partner, with trade between the two countries measuring $329.6 million in 2011. Nevertheless, the Philippines continues to be a priority country for development cooperation, assured Spanish Secretary of State for Foreign Affairs Gonzalo de Benito Secades. And despite its own economic woes, Spain gave P10 billion worth of foreign aid to the Philippines in the last five years, more than any Asian country.
It’s clear the Philippines can be a gateway to the growing ASEAN market while Spain on the other hand can be a takeoff point for Filipino companies into the European Union.
Definitely, tourism is one of the best areas where the Philippines can stand to gain as well as learn from Spain, with 11 percent of the latter’s GDP contributed by the tourist industry. A recent study by the UN World Tourism Organization showed that Spain is one of the top five most visited countries in the world, attracting 57.7 million last year and deriving $50 billion in tourism-related revenue. What is impressive about Spain is the infrastructure and the accessibility of tourist destinations.
Admittedly, Spain’s tourism has largely been anchored on sand and sun, with the extensive coastline along the Mediterranean one of the biggest draws. Cultural tourism is strong, with museums, theaters and 42 official World Heritage Sites making Spain very attractive to explore. And of course, the gastronomic delights of Spain make the country one of the most interesting destinations for visitors.
In the Philippines, a lot of Spanish restaurants were put up by young Spanish businessmen and are doing very well particularly in Bonifacio Global City such as Barcino, Las Flores, Casa Marcos and Vask. In fact, our friend Jorge Araneta wants to bring in “El Botin†– the oldest restaurant in the world having been established in 1725. Located in an old corner of Madrid, it was once a small inn and known as the “Botin de Cuchilleros.â€
No question Spain and the Philippines have a unique and special bond – and when one has an opportunity – should try and learn the rich heritage we inherited from Spain and rediscover the shared aspects of our history and culture.
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