It is also the first prime minister-level delegation exchange between the two countries in more than 20 years, marking an important milestone in the relationship between the two countries. The visit is taking place in the context of the future-oriented strategic partnership between Vietnam and Spain continuing to develop well in many fields.
After nearly half a century of companionship, Vietnam and Spain have woven an increasingly strong bond and reaped many proud achievements in bilateral cooperation. In 2009, Spain became the first country in the European Union (EU) to establish a strategic partnership framework with Vietnam.
The two sides established political consultation mechanisms at the Deputy Foreign Minister level and a Joint Committee on economic, trade and investment cooperation. Despite the geographical distance, political trust and mutual understanding have been continuously strengthened through delegation exchanges and high-level contacts.
That trust is an important foundation for Vietnam and Spain to promote cooperation in many fields. Bilateral economic and trade relations have recorded many strong developments. Spain is Vietnam’s 5th largest trading partner in the EU, while Vietnam is Spain’s largest trading partner in ASEAN.
In the 2019-2024 period, bilateral trade maintained a good growth rate, at an average of 8.7%/year. In 2024, bilateral trade reached 4.72 billion USD, marking the highest level to date, up 20% compared to 2023. Notably, the import-export structure between Vietnam and Spain is complementary, not directly competitive.
In terms of investment, Spain currently has 97 projects in Vietnam with a capital of 143.88 million USD, ranking 46th among the total countries and territories investing in Vietnam, focusing on the fields of processing and manufacturing industry, accommodation, and food services. Meanwhile, Vietnam has 3 investment projects in Spain with a capital of 64.2 million USD in the fields of scientific and technological research and processing and manufacturing industry.
Spain has ratified the EU - Vietnam Investment Protection Agreement (EVIPA). Giving Vietnam priority in its development cooperation policy, Spain has committed to providing Vietnam with ODA loans and non-refundable aid worth over 1 billion USD, mainly through 5 financial cooperation programmes in a number of areas, such as infrastructure, sustainable development, promoting gender equality, health, science, and technology.
One of the highlights in the Vietnam-Spain relationship in recent times is the vibrant cultural and people-to-people exchanges, contributing to strengthening solidarity and friendship, enhancing mutual understanding between the people of the two countries. The two sides signed the Tourism Cooperation Agreement in April 2002 and the Cultural, Educational and Scientific Cooperation Agreement in June 2005. They have also coordinated the organisation of many delegation exchanges, cultural, artistic, film, exhibition and tourism promotion activities in each country.
On the occasion of the 1,000th anniversary of Thang Long-Hanoi, Spain sponsored the upgrade of a hotel of the Hanoi People’s Committee in Spanish architecture and participated in the Ceramic Road project. Vietnam currently exempts unilateral visas for Spanish citizens for a period of 45 days and welcomed 91,400 Spanish tourists in 2024.
The two sides have closely coordinated and supported each other at multilateral forums, especially at the United Nations and ASEAN. On the East Sea/South China Sea issue, Spain has supported the maintenance of peace, stability, security, safety and freedom of navigation and aviation in the region; and the settlement of disputes by peaceful means on the basis of international law, including the 1982 United Nations Convention on the Law of the Sea (UNCLOS).
Welcoming Spanish Prime Minister Pedro Sanchez to Vietnam for an official visit is a practical step to continue implementing the foreign policy of the 13th National Party Congress on independence, self-reliance, multilateralisation, diversification, and proactive and active international integration, while affirming Vietnam’s consistent policy of always attaching importance to and wishing to continue promoting relations with important partners, including Spain.
