The leaders of Spain and Vietnam pledged Wednesday to bolster bilateral economic and military cooperation and expressed their support for global free trade.
Spanish President Pedro Sanchez and his Vietnamese counterpart, Prime Minister Pham Minh Chinh, agreed to increase bilateral trade to $8 billion annually, one of many measures they’ve considered to counter Trump’s “reciprocal” tariffs, which he has now paused for three months.
“No one is interested in a trade war. Nobody benefits from a trade war,” Sanchez said. Every country loses, especially workers and the middle class.” In a three-page joint statement released by La Moncloa, both leaders expressed the need to deepen comprehensive ties, in a move seen as going from “good friends” to “let’s build stuff together long-term.” Both leaders agreed to invest heavily in renewable energy, climate action, and sustainability. They also committed
to a joint effort on digital transformation, innovation, and smart infrastructure, which is expected to significantly advance Spain’s AI and other digital tech startups and pave the way for a more sustainable future.
“Both sides agreed to elevate bilateral relations to a Strategic Partnership for Peace, Cooperation and Sustainable Development,” the statement says. “The two sides agreed to promote cooperation in renewable energy, green transition, and digital transformation, including artificial intelligence and smart infrastructure.”
Vietnam’s former president and newly-elected Communist Party General Secretary To Lam said his country seeks closer relations with Spain, which it considers a key member and gateway to the European Union.
Sanchez is the first Spanish leader to visit Vietnam since both countries established diplomatic relations on 23 May 1977.
Spain’s Breakaway from the EU on China
Sanchez, who before landing in Hanoi said the EU and China need to change their current stance regarding each other, is due in Beijing on Friday.
He will be the first EU leader to visit China since Trump slapped tariffs on most of the world. Both countries are due to sign agreements in areas including pharmaceuticals, agricultural, and medical products.
Sanchez could now argue that Spain should be China’s go-to partner in Europe at a time of growing economic uncertainty.
For his part, Xi Jinping is unlikely to neglect making the case that Beijing is a more dependable ally to Europe than Washington these days, which opens a significant opportunity for tighter bilateral ties.
In 2024, the Spanish president criticised EU tariffs on Chinese electric vehicles and has since secured billions of euros in investment in battery production, renewable energy, and an electric vehicle plant. His visit raises the potential for more Chinese investments in Spain.
