China, Spain sign 10 deals worth US$17.6 bln

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Chinese and Spanish enterprises have signed ten deals worth 17.6 billion U.S. dollars during President Xi Jinping's visit to Spain from November 27 to 29.

These deals cover the areas of finance, telecommunication, environment, machine, vehicle and medicine, hitting a new record of China-Spain trade and economic cooperation, said the spokesperson of China's Ministry of Commerce (MOFCOM).

China and Spain also inked intergovernmental cooperation documents such as a Memorandum of Understanding in the Third Party Market, Avoidance of Double Taxation and the Prevention of Fiscal Evasion and Inspection and Quarantine of Imported Pork Products and so on.

During the visit, China-Spain Business Advisory Council was formally established and the first meeting was successfully held, becoming another platform for deepening bilateral economic and trade relations.

Chinese President Xi Jinping (L) meets with Spanish Prime Minister Pedro Sanchez (R) in Madrid, Spain, November 28, 2018. /Xinhua Photo

Xi's visit coincides with the 45th anniversary of the establishment of diplomatic ties between the two countries, and the two sides have enjoyed excellent trade relations through all these years.

China is Spain's sixth largest trading partner in the world and the largest trading partner outside the EU. From January to September 2018, the bilateral trade volume hit 25.35 billion U.S. dollars, according to the MOFCOM.