Spanish Companies See Better Business Expectations in Argentina

Spanish companies with trade interests in Argentina cashed in on President Nestor Kirchner’s recent visit to Spain to hold a series of meetings that served to breathe some fresh air into their business expectations and underscore their confidence in the Latin American nation’s economic rebound.

During a four-day visit to Spain, Mr. Kirchner huddled with Florentino Perez, president and CEO of ACS Building Co., and Francisco Gonzalez, president of the BBVA Bank.

The Argentinean president also met with Pescanova chief Manuel Fernandez and with Rafael Mourelle, director-general of International Highways, attached to the Abertis Group.

In each and every gathering, the Argentinean statesman assessed his country’s macroeconomics and the prospects for a number of entrepreneurial sectors, two topics he had already discussed with the top brass of Spanish firms Telefonica, Repsol and Endesa, as well as with Jose Maria Cuevas, chairman of the Spanish Employers Association.

Mr. Mourelle of International Highways, a company that owns several access routes to Buenos Aires, vowed President Kirchner his commitment to pouring up to 50 million pesos (some 15 million euros) into works aimed at raising safety for Argentina’s roads this year.

Mr. Mourelle admitted the topic of highway tolls is still “enduring a long process of negotiations with the Argentinean government,” yet he said his firm “is just within an ace of coming up with a happy end to this story.”

Optimism toward Argentina’s improved economy set the tone of the meetings between Spanish and Argentinean businesspeople and President Kirchner.

Mr. Kirchner escorted the Spanish monarchs to the Wednesday grand opening of the Madrid International Tourism Fair (FITUR), attended an official dinner offered by His Majesty Juan Carlos I, and joined the audience for the presentation of a book entitled Immigrations: The Situation between Argentina and Spain.