Spain, Vietnam aim to increase bilateral trade to 5 bln euros by 2020

By：Xinhua Update：2017-05-25

Spain and Vietnam on Wednesday agreed to increase bilateral trade to 5 billion euros (5.6 billion U.S. dollars) by 2020, the Spanish State Secretary for Trade, Maria Luisa Poncela, said here Wednesday.

She made the statement in a press conference attended by visiting Vietnam's Deputy Minister of Industry and Trade, Cao Quoc Hung, and representatives of some Vietnamese firms on the occasion of the Vietnam-Spain business forum on Wednesday.

She said Spain sees Vietnam as a loyal partner with political stability and willing to integrate its economy into the global economy, adding the bilateral trade reached approximately 2.7 billion euros in 2016.

"Our firms are committed to the country's economic development" she said, explaining that Spanish firms supervise the construction of the motorway between Hanoi and Lao Cai, among other examples that involve air trafficking control systems and airport equipment.

The forum was held on the occasion of the Vietnam Day in Spain that included different cultural activities to celebrate the 40th anniversary of the bilateral relations between the two countries. (1 euro= 1.1 US dollars)