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Spanish companies face 2019 focusing on internationalization. This has been confirmed by Banco Sabadell, which during the last days of December has maintained contact with more than 300 companies in the country. The entity chaired by Josep Oliu has organized a series of individualized meetings in which the directors of the representative offices (DOR) that Banco Sabadell has distributed throughout the world have advised entrepreneurs and executives interested in promoting or entering certain international destinations to expand their business.
Banco Sabadell was the first Spanish bank to land in Dubai to help Spanish companies enter and expand in the United Arab Emirates and neighboring countries.For these meetings, the bank moved its DORs to the main Spanish cities to attend in situcustomer queries and concerns. The Director of International Business at Banco Sabadell, Carlos Dalmau, points out that "this formula of individualized meetings is highly valued by companies because we bring them closer to our directors who live and work in strategic destinations such as the United Arab Emirates, China, India, Brazil, the United States, Colombia, or Poland. In this way, a client interested in the Middle East, for example, does not need to travel to that part of the world, as we provide them with direct contact with our director in Dubai, who advises them on the key aspects for entering or consolidating in that region."
Precisely, the DOR for the Middle East, Víctor Argüello, recalls that Banco Sabadell was the first Spanish bank to land in Dubai to help Spanish companies enter and expand in the United Arab Emirates and neighboring countries. "It was in 2009 when we opened our representative office. It was a key moment for Spanish companies because, as a consequence of the crisis, they had to seek new horizons. Since then, we have become an important pillar for any company interested in establishing relations with the Middle East, as from Dubai we cover eight countries. Today it is a very attractive destination for materializing projects."
Argüello explains that "this area has practically no industrial fabric, so they need to import almost all goods." Argüello, at the same time, advises, for establishing commercial relations in this area, "patience and knowledge of the culture: the Arab market requires a lot of work to establish relationships of trust." In this process, Banco Sabadell accompanies Spanish companies that want to do business.
INTEREST IN ALGERIA
In these individualized meetings with companies, one of the DORs that has accumulated the most meetings on her agenda has been Hassiba Bestandji, the head of the bank's office in Algeria. Spanish companies continue to follow the evolution of the Maghreb country with great relevance because it offers business opportunities in all sectors such as agriculture, construction, healthcare, or tourism, among others. "This year we have seen that it is the trendy destination," concludes Carlos Dalmau. Another country that has also aroused the interest of the bank's clients is Turkey. Its DOR, Vicente Balbín, emphasizes that "Turkey is an open economy that has modernized a lot in recent years and has a high level for doing business." In his opinion, the main handicap of the Turks is communication, because "there is a big difference between what Turkey is and what happens there and what is made known about this country to the world." In this regard, Balbín highlights that "from the Turkey office, Banco Sabadell provides truthful, close, and verifiable information about the country, to debunk myths." Balbín adds that "in Turkey there are already fourth-generation industrial groups that are very powerful." Furthermore, he emphasizes, "Turkish culture is Mediterranean and, therefore, very similar to ours, which facilitates possibilities for understanding."
Banco Sabadell has a network of 13 representative offices that emerged with the purpose of accompanying Spanish companies in their international expansion plans. Today it is the reference financial institution for any company in the country. 65% of organizations choose to work with Banco Sabadell. While waiting to close the 2018 fiscal year, it has already attracted 8,000 clients in international business and has increased financing for financing and export projects by 19%.
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