Spain will fund UNCTAD work on trade negotiations, trade facilitation and investment promotion under a Memorandum of Understanding signed today in Geneva. The Spanish government will provide 300,000 euros this year for the projects, all of which will be carried out in Latin America and the Caribbean.
Carlos Fortin, Officer-in-Charge of UNCTAD, co-signed the agreement with Alfredo Bonet, Spain´s Secretary-General of External Trade. This initial contribution is intended to launch ongoing cooperation between UNCTAD and the Spanish Secretariat of State of Tourism and Trade. A broader framework agreement of cooperation that will cover other sources of Spanish funding for UNCTAD´s technical cooperation programmes is also being negotiated.
During the initial phase of the cooperation, the Spanish contribution will finance operations for Latin America and the Caribbean in three areas: negotiations of trade in services at the multilateral, regional and bilateral levels; capacity development for trade facilitation and related services; and investment promotion policies.