Official sources emphasize that he has an added interest given the current circumstances and that the objective is to continue diversifying markets in line with the strategic autonomy that the Prime Minister has defended in the European Union, with which this trip has been coordinated.
The same sources emphasize that this is not a trip to replace the existing relationship with the United States, but rather to diversify markets, open opportunities, and reduce dependence. Therefore, Sánchez will travel to Vietnam accompanied by a group of Spanish businessmen and will participate in a business forum in Ho Chi Minh City.
This is the Prime Minister's first trip to Asia this year, to a continent that is especially relevant right now after Trump announced on Wednesday that he will apply a universal 10% tariff, in addition to additional levies reaching 20% for the European Union, 34% for China, and 46% for Vietnam, among other countries.
Specifically, and given this new geopolitical context, Sánchez will travel to Vietnam with the dual objective of trade and economy, to diversify markets in line with the strategic autonomy that the Prime Minister has championed within the European Union, with which this trip has been coordinated. Pedro Sánchez has regained a certain momentum and prominence within the European alliance and has been leading a firm commitment to its continuity, regardless of any decisions the United States may make, including the Defense Minister.
To achieve all these objectives, the Prime Minister will be accompanied by the Minister of Foreign Affairs, the European Union, and Cooperation, José Manuel Albares, and the Minister of Agriculture, Fisheries, and Food, Luis Planas. Sánchez's agenda will be on April 9 and 10 in the Vietnamese cities of Hanoi and Ho Chi Minh City.
This is the first official visit by a Spanish Prime Minister to Vietnam. Specifically, in Hanoi, Sánchez will meet with the country's four highest authorities: the President, the Prime Minister, the General Secretary of the Communist Party, and the President of the Assembly. Therefore, the trip also has political significance, emphasize sources from Moncloa.
However, the focus will be primarily on the economy and trade, areas in which a series of protocols and memoranda are expected to be signed with the two countries.
In addition, the Prime Minister, who will travel to Vietnam accompanied by a group of Spanish business leaders, will participate in a business forum in Ho Chi Minh City, the country's economic capital, and will meet with representatives of Vietnamese companies with potential investors in Spain.
The situation surrounding tariffs will be a major focus of all these meetings. While tariffs are 20% for the European Union, they are 46% for Vietnam.
Therefore, the Spanish government believes there may be an alignment in this situation to deepen existing ties.
A joint declaration is also expected to be adopted and a series of mechanisms promoted through the signing of memoranda of understanding to develop both political and commercial aspects. These memoranda will facilitate dialogue to implement different policies in areas such as agriculture and fisheries. A memorandum of understanding will also be developed for Culture and Sports, as Spain has a strong global presence in these areas, and this is something of great interest to the government, according to sources within the government.
Finally, a financial protocol worth €300 million will be signed to promote the entry of Spanish companies into Vietnam.
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