King of Spain Felipe VI and Deputy Prime Minister and Foreign Minister Pham Binh meet in Madrid on May 23, 2017.

The King applauded Vietnam’s achievements in socio-economic development and global integration during its renewal process, stressing that Spain supports Vietnam increasing its role and position in the region and beyond.

Deputy PM Minh noted that the recent annual increase of 20% in two-way trade shows the huge potential of Vietnam-Spain cooperation. He said Vietnam will create favorable conditions for Spanish businesses wishing to invest in Vietnam.

At another meeting the same day, Mr. Minh and Spanish Minister of Foreign Affairs and Cooperation Alfonso Dastis agreed to work together to boost two-way trade to 5 billion euros by 2020 and foster cooperation at regional and global forums.