Do you need to enter the Spanish Market?
Countless theories on international trade attempt to define why it happens the way it does. Those who lean towards more mercantilist positions will agree that countries should aim to have a surplus in their trade balance (exports are greater than imports); however, and without wishing to engage in a polemical debate, imports into Spain have increased by 34.6% compared to the previous year (Ministry of Industry, Trade and Tourism) and, consequently, we can deduce that you should consider this country to import your products as it will be a good opportunity to grow your business.
That is why we offer the appropriate information to Enter the Spanish Market.
We have made it clear that Spain is a country of imports. Imports account for 29.39% of its GDP, so it is clear that the Spanish economy benefits from the volume of imports it receives from foreign companies in the Spanish market. However, the Internationalization of foreign companies – both those that are part of the EU and those that are not – must abide by the “rules of the game” and their commercial strategy in the Spanish market must follow certain precepts in order to make their business grow in Spain.
Did you know that Alfombra Roja is a business consultancy in Spain that can help you make inroads into the Spanish market?
Here we explain a series of rules that you must follow to Enter the Spanish Market.
1. Imports from the European Union. If your company comes from an EU country, it must adhere to the common market that was specifically designed to regulate and facilitate imports, exports and, in general, the commercial exchanges of the countries that are members of this “club”. At present, acquisitions from companies based in Spain, for example, to another Danish company, are considered as an intra-Community purchase of goods. What does this mean? It means that this commercial transaction loses its traditional import character and under all circumstances this action would have the same consequence as if you had chosen to purchase your product in any other Spanish city.
2. Importing from outside the EU. In Alfombra Roja we also offer Support to Spanish-American companies. We have been working for more than a year with Costa Rica, we are Procomer’s office in the Nordic countries (Procomer is Costa Rica’s foreign promotion agency). We have also had projects with Peru, Chile, Argentina… This way we know that if we leave the borders that delimit the European Union, the definition of import becomes again the concept that we know traditionally: “any acquisition process that goes beyond our borders or where our language is not spoken”.
In order to import from outside this economic union, any company willing to enter the Spanish market must take into account the following concepts:
What should I take into account when entering the Spanish Market?
a. The Commercial Invoice, which must be issued by the supplier and include the relevant details of the importing company, as well as its own supplier, the goods to be imported, their price and the conditions of sale.
b. The Packing List is all information related to the shipment of goods. It again indicates what is being shipped, how many packages it consists of and what their weight and dimensions are.
c. The Bill of Landing (BL) is one of the key documents for the company importing into Spain, as it is necessary for the goods to be delivered.
d. The certificate of origin becomes essential when the process of importing goods into the Spanish market includes any special type of goods or goods from a country that offers some type of benefit. For the latter case, it is necessary to present an official document accrediting its origin in order to be able to enjoy this benefit.
Do you need advice on how to import to Spain?
Remember that at Alfombra Roja we are specialists in exporting and importing and we can help you design your business strategy in the Spanish market, as well as give you a series of useful tips to be able to enter this market.
