Boosting Vietnam – Spain Business Ties
A delegation of Spanish businesses operating in energy, architecture, infrastructure, consultancy, etc has directly met Vietnamese companies in Hanoi. The Vietnam Chamber of Commerce and Industry (VCCI) coordinated with the Confederation of Employers and Industries of Spain to organise the business matching for Vietnamese and Spanish companies to exchange information, seek partners and survey markets to further accelerate the Vietnam – Spain economic cooperation.
VCCI Vice President Pham Gia Tuc said visiting Spaniards are world-leading and prestigious companies. Besides, Spain is one of the important partners of Vietnam; thus, enterprises of the two nations need to boost their cooperation.
Sharing the viewpoint with Mr. Tuc, Mr. Jesus Banengas, Vice Chairman of the Confederation of Employers and Industries of Spain, said: Businesses from the two countries should join efforts to strengthen co-operative ties based on specific cooperative projects. Specially, businesses of the two nations need to build more dynamic new economic relations.
According to the Spanish customs authorities, the two-way trade has recorded an average annual increase of 20 percent. It fetched EUR1.1 billion in 2008, in which Vietnam earned over EUR972 million from exports to Spain, up 16.4 percent year on year while Spain bagged EUR106 million from exports to Vietnam, up 6.9 percent year on year.
The bilateral trade revenue reached EUR616 million in the first seven months of this year, in which Vietnam raked in EUR554 million, up 4.9 percent, and Spain attained EUR61 million, down 13.1 percent. Spain is the seventh biggest export market for Vietnam.
Vietnam’s main exports to Spain include footwear, apparels, coffee, seafood and woodwork while it imports machinery, mechanical equipment, chemicals, steel and pharmaceuticals.
As of end October 2009, Spain had 14 projects in Vietnam with a combined registered capital of more than US$11 million, ranking 61st among 89 foreign investors in Vietnam.
Tags: Vietnam business news, Vietnam Spain corporation
Posted by VBN on Nov 25 2009. Filed under Int'l Cooperation. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry
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