Pham Gia Tuc, vice chairman of the Vietnam Chamber of Commerce and Industry said that Spain is one of the important partners of Vietnam. It is a big market with a number of the world’s leading businesses.

Jesus Banengas, Vice Chairman of the Confederation of Employers and Industries of Spain (CEOE), said that businesses from the two countries should join efforts to strengthen co-operative ties based on specific co-operative projects.

Two-way trade value between Vietnam and Spain has obtained an average growth rate of 20 percent in recent year and reached US$1.2 billion in 2008. Spain is the seventh biggest export market for Vietnam with key products in footwear, garments, coffee, seafood and wood. Vietnam mainly imports machines, chemicals, steel and pharmaceuticals.

So far, Spain has had 14 projects in Vietnam with a combined registered capital of more than US$11 million, ranking 61 among 89 foreign investors in Vietnam.