To Josep Piqué, in testimony of remembrance and gratitude for his generous contribution to the activities of the Spain-ASEAN Business Association (Asempea).

A few months ago, the Debate publishing house had the happy idea of compiling in a volume some of the numerous articles through which Josep Piqué expressed his concerns, worries, and opinions on diverse topics such as Spain, Europe, the USA, Latin America, Asia, and the World Order. Titled “Geography is Always There and History Always Returns,” a formula he often used to try to understand and explain everything that happens to us, the book contains, among other articles, the one related to the heading that heads this text, a heading that I will use to revisit the convenience of placing Asia in general and Southeast Asia in particular among our most important strategic interests.

Spain’s Presence and Projection in Southeast Asia

As Minister, Josep Piqué, convinced of the importance of the Strait of Malacca as a new center of gravity in the world, promoted the “Asia-Pacific Plan,” with concrete measures to increase Spain’s presence and projection in the region. In this context, he emphasized something that is sometimes overlooked: Spain, although it contributes to the articulation of a European foreign policy, must have its own, with its interests and capacities, through a growing presence in the field of trade and investment. This is not an option to consider but a genuine strategic necessity to be assumed by both the public and private sectors in their respective spheres of influence.

Then, in 2018, the “Strategic Vision for Spain in Asia 2018-2022” was launched, with thirty-three recommendations on objectives, organization, and working methods, to achieve, as stated by the Royal Elcano Institute, “a similar level to that which the main countries of our environment already have in the medium term.” Later, coinciding with the expiration of this Vision’s time frame, Casa Asia developed the “Casa Asia Strategic Plan 2022-2025,” which, aside from objectives and areas of action—including Southeast Asia—clearly identified the three main problems we face: the lack of a clear image of Spain, the absence of experts, and the difficulty for companies to do business.

The Lack of a Clear Image of Southeast Asia

To these problems, with which I fully agree, I would add another: the lack of a clear image of Southeast Asia, especially on the part of our companies, which undoubtedly exacerbates the difficulty in doing business. When I refer to this in conferences, workshops, or seminars, I have observed that this image either does not exist or, when it does exist, is distorted by issues related to national stereotypes, language barriers, cultural prejudices, or simply geographical distances. Unlike companies from other European countries that have resolved these issues long ago, we still have much to address, and this can only be achieved through information—more information and more information.

In recent years, although it is true that the lack of a clear image of Southeast Asia in Spain has been partially mitigated thanks to the combination of public and private efforts on both shores, these efforts are still not sufficient to position us “at a level similar to that which other countries in our environment already have,” as stated by the Royal Elcano Institute. The difference with them—both in commercial and investment terms—remains significant today, perhaps because we lack that distinct foreign policy that Piqué consistently called for with vision, insight, and timeliness—a reminder that is worth reiterating given the interests at stake.

The Economic Importance of Southeast Asia

These interests were recently highlighted by The Economist, emphasizing the potential economic power of Southeast Asia by stating that “Few parts of the global economy hold more obvious promise than Southeast Asia”; that “Southeast Asia is home to some of the world’s most exciting economies”; and that “The IMF expects Southeast Asia’s economy to grow at almost 5% a year in the second half of the decade.” This is despite acknowledging various limiting factors such as restrictive regulatory frameworks; high costs associated with bureaucratic, fiscal, and social burdens; and even inefficient state monopolies in some cases—factors that are fortunately gradually disappearing thanks to ongoing economic liberalization processes.

Josep Piqué’s Commitment to Southeast Asia

The opportunities offered by Southeast Asia vary from country to country due to differences in political, economic, and regulatory systems. However, generally speaking, these limiting factors I just mentioned are risks—common to other countries as well—that can be overcome with presence, persistence, and patience. Josep Piqué’s commitment to this region, considering its sustained economic growth, is a commitment worth revisiting because today it is more relevant than ever; letting it pass by—regardless of whether it is a public or private actor—would be regrettable.

Antonio Viñal
Lawyer
AVCO Legal
madrid@avco.legal