Vietnam, Spain Trade to Touch US$915Mln This Year

Two-way trade between Vietnam and Spain is expected to climb to US$915 million this year, posting an on-year increase of 20 per cent, according to the Spanish Economic and Commercial Office in Ho Chi Minh City.

 

The growth is substantial but it still remains below expectations by the two countries, said Soledad Fuentes Gomez, Spanish Ambassador to Vietnam.

 

Vietnam is estimated to import $150-170 million worth of building materials and machinery from the foreign country this year, among others.

 

Garments, footwear, furniture, seafood and coffee are now the country’s staple export items to Spain.

 

During a meeting with reporters before the celebration of Spain’s National Day held in Ho Chi Minh City on October 16, Fuentes said that she expected bilateral relations, especially in economic and business aspects, would strongly develop in the coming years.

 

She added that 2006 was important as it marked the first visit of King Juan Carlos to Vietnam in February with an entourage of 40 businessmen. During the trip, Vietnam and Spain signed four agreements pledging to work closely in various sectors including investment promotion and protection.