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Corporate information 13 Jun 2024

Carlos Torres Vila (BBVA): “We have great confidence in Türkiye’s long-term potential”

The Spanish Prime Minister, Pedro Sánchez; the President of Türkiye, Recep Tayyip Erdoğan; and Carlos Torres Vila, Chair of BBVA and Co-Chairman of the Spanish-Turkish Business Council, opened the Spain -Türkiye Business Meeting, which was held on Thursday at Ciudad BBVA in Madrid.

During his speech, Carlos Torres Vila remarked that BBVA has “great confidence in Türkiye’s long-term potential”, underlining that the summit has been a great opportunity to build and promote a framework for further collaboration and dialogue between the two countries. He also shared BBVA Research’s positive outlook for the Spanish and Turkish economies, which are expected to grow by 2.5 percent and 3.5 percent in 2024, respectively.

BBVA’s Chair congratulated the Spanish government for the good performance of the economy and underscored the commitment that the bank shares with the Spanish Government on key issues such as ecological transition, renewable energy and inclusive growth in the face of climate change. He also welcomed the launch of the Spanish Productivity Council, which, in his opinion, should help lay the foundations for long-term growth shored up by a steady increase in private investment.

Looking at Türkiye, Carlos Torres Vila praised Turkish society for its entrepreneurial spirit, its demographics and its regional leadership, which gives it immense potential to become a manufacturing hub for the European Union. He also underscored that the economic policies implemented by the Turkish government in recent months are showing positive results.

Carlos Torres Vila, Chair of BBVA, and The Spanish Prime Minister, Pedro Sánchez, at Ciudad BBVA in Madrid.

During his speech, the BBVA Chair emphasized the need for a proper framework of public-private partnership to successfully tackle the current environment of geopolitical uncertainty and various major challenges, including climate change and the impact of technological progress.

To conclude, Carlos Torres Vila reiterated that Spain and Türkiye have succeeded in building strong ties and that their economic and trade relations have helped improve the social welfare of both countries. He also expressed his gratitude for having been invited to take part in this event as co-chairman acting on behalf of Spanish companies which, like BBVA, also happen to do business in Türkiye. He also pledged to work from within the Spain Türkiye Business Council to build a roadmap with an agenda of common interests and priorities for both countries, for the benefit of all the companies it represents.

The business summit was also attended by the President of the CEOE (Spanish Confederation of Business Organizations), Antonio Garamendi; and by the President of DEİK (Economic Council of Foreign Relations of Türkiye) Nail Olpak; as well as by the minister of Economy, Carlos Cuerpo, and the Secretary of State of Commerce, Amparo López Senovilla, and other leaders from public and private institutions.