FIRST DELIVERY OF THE PROJECT

CULTURE AND BUSINESS IN EUROPE

INSTITUCIÓN UNIVERSITARIA POLITÉCNICO GRANCOLOMBIANO

FACULTY OF ADMINISTRATIVE, ECONOMIC AND ACCOUNTING SCIENCES
INTERNATIONAL BUSINESS
CULTURE AND REGIONAL ECONOMY OF EUROPE
2019

TABLE OF CONTENTS

INTRODUCE...................................................................................................................................3
CHARACTERIZATION OF THE COUNTRIES.........................................................................4
SPAIN............................................................................................................................................4
BIBLIOGRAPHY............................................................................................................................7
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 INTRODUCE

Through our economic research about the 3 selected countries and those who make up the
European Union, we will know what are the options, customs and ways of negotiating
between these countries and Colombia. Through the development of trade agreements such
as free trade agreements, we will be able to demonstrate the benefits that are obtained
between these, the elimination of all restrictions and the strengthening of economies,
generating a significant increase in their commercial activities.

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 SPAIN

CHARACTERIZATION OF THE COUNTRIES

SPAIN

Capital: Madrid

Population: 46.659.302

Currency: Euro

Religion: Mainly Catholicism

Member of: European Union, Euro Zone,

EEE, IMF, OTAN, OCDE, ONU, OSCE

Economy: Spain is the 11th economy by volume of GDP. The principal cause of Spain's

crisis was the housing bubble and the accompanying unsustainably high GDP growth rate,

generating a level of unemployment higher than 15 %, which has not been eradicated even

today. Because of the great Spanish depression that began in 2008 during the financial

world, the developed countries were mainly affected. "In the final stretch of the quarter

there could have been some weakening of consumption, as a result of the loss of purchasing

power that is derived from the rebound of inflation". (El País, 2018)

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 “However, the Spanish economy has ground to superior levels of 3%, principally in the

last 3 years consecutively, this recuperation has been motivated due to strengthening

exports. The trade represents 62% of GDP, followed by automotive industry 16%,

principally tourist cars, tractors and auto parts. In addition, oil derivates, wine, fruits and

some vegetables”. (Review economic commission for Latin América and the Caribbean

edition 100, April 2010).

Culture: Personal meetings are essential for Spanish companies, it is a tradition to give

promotional material, notebook, pen or calendar to promote companies. "If the reason to

visit Spain is a business, it is useful to know that Spain is in place 28 of the 190 that make

up the Doing Business ranking, which classifies countries according to the ease they offer

to do business." (expansion 2018)

Trading: The mainly business partners are:

Recovered from: portal.santandertrade.com 2017

During 2016 the trade balance of the country was in deficit, due to exports increased

historical figure of EUR 277million in 2017, but imports also increased by 10.5%, with

EUR 301million. Thus, the deficit was 24,740 million, 31.9% more than 2016.

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However, its right to indicate that the spanish economy has had a considerable

improvement since the crisis of 2008, with increases superior of 3%, principally in the last

3 years consecutively, factor that constitutes it as an interesting commercial partner for

Colombia.

BIBLIOGRAPHY

 https://elpais.com/economia/2018/07/31/actualidad/1533020596_145105.ht
ml

 http://www.tlc.gov.co/publicaciones/18028/acuerdo_comercial_entre_la_uni
on_europea_colombia_y_peru