THURSDAY, 27 APRIL, 2017 KUALA LUMPUR: Malaysia External Trade Development Corporation (MATRADE) in collaboration with the TSH Europe organised a seminar titled "Spain – Your Franchise Destination to EU Markets" at Menara MATRADE today. This is timely as the seminar highlighted the franchise opportunities for Malaysian franchises in Spain.
The seminar was aimed at enhancing the understanding on challenges, rules and regulations to start a franchise business in Spain. The speakers at the event elaborated on Economic Outlook in Spain, Current Trends & Growing Sector in Spanish Franchise market and the Legal Aspects of European Union regulations.
The franchise industry in Spain is growing at a strong pace with the total turnover amounted to EUR26.5 million featuring 1,232 brands. Among the top Spanish brands include Dia, Mango, Fotoprix, Naturhouse, Telepizza and MRW.
There are a lot of business opportunities for Malaysian companies to collaborate with Spanish companies. Among the focus sectors include personal care, fashion accessories, fast food, hospitality, online business, education and business advisory.
Spain is a member of the European Union and has a population of 46.8 million people. It has an outstanding position worldwide in terms of the importance of its economy. Spain is the World's 14th-largest economy and one of the most attractive domestic markets in Europe - being the 5th-largest economy in the EU with a GDP worth USD 1.2 trillion. The Spanish economy has grown strongly in 2016, led by domestic demand spurred by monetary policy in the Euro area and a fiscal stimulus.
Malaysian companies can leverage on Spain as a gateway to enter the European markets and Latin America too. The franchise market in Latin America comprises 5,500 brands which constitute 5 percent of the Latin America's GDP. The largest markets in Latin America include Brazil, Mexico and Argentina.
In 2016, Malaysia's total trade with Spain amounted to RM4.43 billion. Malaysia's exports to Spain valued at RM2.33 billion, while imports were totalled at RM2.10 billion.
Major exports to Spain were palm oil & palm based products, chemicals & chemical products, rubber products, machinery, equipment & parts and electrical and electronic products. Major imports from Spain were iron & steel products, chemicals & chemical products, machinery, equipment & parts, electrical & electronic products and textiles, apparels & footwear.
In the period of January to February 2017, Malaysia's total trade with Spain amounted to RM794.5 million with exports valued at RM387.6 million and imports were RM406.9 million.