Daily Archives: May 11, 2012

Spain to Bolivia: “have respect to our investments”

Could be diplomatically, could be just Spain, but it reflects how anyone would feel against someone who does not comply with agreements, someone who feels the world “owes” them so much, someone who has very little self-esteem.

As reported by Pagina Siete:

The Secretary of State for international cooperation and for Latin America of the Ministry of Foreign Affairs of Spain, Jesus Manuel Gracia Aldaz, visiting La Paz, since yesterday, requested respect for reciprocal protection of investments – [for their] subsidiaries – [under the] framework agreement signed with Bolivia to continue diplomatic relations.

Gracia came to Bolivia to meet with Foreign Minister David Choquehuanca, and President, Evo Morales, to establish compensation for the nationalisation of the Transportadora de Electricidad (TDE) [electricity transport service, grid power lines].

“What we want is respect for the law and respect the framework agreement of reciprocal protection of investments”, asked Gracia. He expressed the nationalization driven by Bolivia Government is not viewed in a good way in Spain.

However said that [we] “respect the Constitution and the Bolivian legal framework: the only thing we ask is that this is always done in a negotiated manner, always in an amicable manner and paying the fair-price, if there would be in some occasion, some kind of nationalization”.

“There are things we like most and there are things we like least, and I think that this situation of nationalization was not something that have seemed us well (…),” said Gracia.

He explained that the rest of the Spanish companies operating in the country are working with normalcy and “satisfaction of the Governments of Bolivia and Spain”. And he pointed out that there are Spanish investments in sectors such as oil, industry, construction and others.

The Spanish emissary ruled out the suspension of cooperation to Bolivia and said that such assistance will continue to be strengthened as long as there is an appropriate compensation for the TED. He indicated that at least 100 million euros a year, is what Spain gives to this country.

“We as Spanish Government think in all terms, as the Bolivian case, nationalisations are not good and think is better a good system of enterprises managed by a regulatory framework that has to come from the Government,” said the Secretary.

“The company (REE) and the Government will work jointly on the terms of reference so that a third party can carry out the evaluation to establish a fair price (for the nationalisation of the TDE)”, he said.