Representative of the Department of European and American Markets (Ministry of Industry and Trade) said that the bilateral relationship between Vietnam and Spain has a good foundation and many prospects for further development in the future, especially in the future. economic, investment and trade fields thanks to the stable and dynamic economic development in each country as well as the position and role of the two countries in the region.

Specifically, over the past 8 years, Vietnam-Spain bilateral trade has maintained good growth momentum and the Vietnam-EU Free Trade Agreement (EVFTA) taking effect from August 2020 has created new momentum. , promoting trade turnover between the two sides when almost 100% of import and export tax lines are reduced to 0% according to a 7-10 year roadmap.

In addition, the strategic location of the two countries at the gateway to important economic regions of Asia and Europe helps the two countries become a bridge between the two most dynamic economic regions of the world.

Furthermore, Vietnam has participated in 15 free trade agreements (FTAs) with nearly 60 countries around the world, of which important FTAs open many of the world's largest markets such as the Comprehensive Partnership Agreement. and Trans-Pacific Progress (CPTPP), Vietnam-EU Free Trade Agreement (EVFTA), ASEAN Free Trade Area (AFTA), Regional Economic Partnership Agreement (RCEP)... helping Vietnam potentially become an important center in the Asia Pacific region.

Data from the European - American Market Department shows that in 2022, two-way trade turnover between Vietnam and Spain will reach 3.54 billion USD, an increase of 13% compared to 2021 (a growth rate highest ever), in which, Vietnam's export turnover to Spain reached 2.96 billion USD, an increase of 16.34% and Vietnam's import turnover from Spain reached 572.69 billion USD. million USD, down 1.59% compared to last year.

In the first half of 2023 alone, Vietnam's total import-export turnover to Spain reached approximately 1.95 billion USD, of which exports reached 1.63 billion USD (up 2.3%), imports reached 0 .32 billion USD (up 14.2%). Thus, Vietnam maintains a high trade surplus of 1.31 billion USD.

Export products maintaining high growth momentum include: Rice (217.1%), rubber products (54.6%), tourism goods (75.4%), textiles and garments (39.2 %), footwear of all kinds (47.6%), means of transport-parts (21.8%), and toys-sports equipment-parts (145.9%).

Despite maintaining a high trade surplus, the Vietnam Trade Office in Spain also commented that in the first months of this year, Vietnam's exports to the Spanish market have been facing more difficulties than before. before.

The main reason is due to internal difficulties of the market and increasingly fierce competition. Many key export categories of Vietnam are under increasing competitive pressure from Latin American countries, especially for seafood, vegetables, coffee, textiles, footwear, wood and other products. wood products.

The report of the Trade Office also clearly points out that in recent years, export turnover will normally accelerate in the second half of the year from June and July onwards, so there is still opportunity for Vietnamese enterprises to accelerate development. expand into this market.

Although there are many opportunities, in order to increase the market share of Vietnamese goods here, the Vietnam Trade Office in Spain recommends that ministries and sectors need to increase delegation exchanges at all levels and sectors to promote cooperation. trade, industry and investment cooperation, including integration with the organization of business talks between the two countries. Because from July 1, Spain assumes the role of rotating President of the European Council (EC).

Minh Toan