Business · Vietnam Bureau
Vietnam and Spain move to strengthen strategic bilateral partnership
Vietnam and Spain are deepening their strategic ties through efforts to resolve trade barriers and expand economic cooperation. Hanoi has called on Madrid to support the swift removal of the IUU yellow card affecting Vietnamese seafood exports and to encourage EU ratification of their investment protection agreement.
LSN Vietnam ·
Vietnam is pressing Spain to intensify its advocacy within European Union institutions to address persistent trade obstacles affecting Vietnamese exporters. Among Hanoi's priorities is securing the EC's removal of the illegal, unreported, and unregulated (IUU) fishing yellow card designation on Vietnamese seafood products, which has constrained market access for one of the country's major export sectors.
The seafood industry has long been a cornerstone of Vietnam's export economy, and the IUU classification has created significant headwinds for producers seeking access to EU markets. Vietnam has appealed to Spain, as an influential EU member state, to use its voice to persuade the European Commission to lift the designation following improvements made by Hanoi to its fishing oversight and compliance mechanisms.
Beyond the fisheries issue, Vietnam is also seeking Spanish support for the rapid ratification of the EU-Vietnam Investment Protection Agreement (EVIPA). The accord is designed to safeguard bilateral investment flows and strengthen the legal framework for business operations between the two countries. Hanoi has urged member states, including Spain, to expedite parliamentary procedures needed to bring EVIPA into force.
The bilateral engagement reflects broader momentum in Vietnam-Spain relations, with recent developments including expanded trade opportunities in Turkey and Spain, strengthened people-to-people exchange through the Vietnam-Spain Friendship Association, and Vietnam's prominent participation in FITUR, Spain's flagship international tourism fair. These initiatives underscore both nations' commitment to deepening economic, cultural, and diplomatic cooperation.