Malaysia–Spain relations

Malaysia–Spain relations

Malaysia
Spain

Malaysia–Spain relations refers to bilateral foreign relations between Malaysia and Spain. Malaysia has an embassy in Madrid,[1] and Spain has an embassy in Kuala Lumpur.[2]

History

Spain established a diplomatic relations with Malaysia on 12 May 1967 and both the Malaysian and Spanish embassy were opened in 1986.[3] A first state visit was made by the Malaysian ninth Yang di-Pertuan Agong of Azlan Shah in July 1992 while the King of Spain Juan Carlos with Queen Sofia visit Malaysia on 4 April 1995.[3]

Economic relations

In 2011, the total Malaysian exports to Spain stood at $620 million while Spanish exports to Malaysia were worth around $320 million.[4] Malaysia is where the largest Spanish investment in Southeast Asia is mostly concentrated with a large presence of Spanish companies while the presence of Malaysian companies in Spain is relatively small.[5][6] One of the Spanish companies, GMV, is also involved in the development of the proposed high-speed train between Kuala Lumpur and Singapore.[6][7] Major Spanish exports to Malaysia include electrical machinery, iron and steel, fertilizers, chemicals and textiles while major Malaysian exports to Spain include rubber, palm oil and electrical device components.[6] Both countries were also in the process to increase trade relations especially in tourism and the marine industry.[8] An agreement on avoidance of double taxation and fiscal evasion has been signed between the two countries.[9][10]

References

  1. ↑ "Official Website of Embassy of Malaysia, Madrid". Ministry of Foreign Affairs, Malaysia. Retrieved 8 May 2014.
  2. ↑ "Embassy of Spain in Kuala Lumpur". Ministry of Foreign Affairs and Cooperation (Spain). Retrieved 8 May 2014.
  3. 1 2 "(ESPANA-MALASIA) RELACIONES BILATERALES" (PDF) (in Spanish). Ministerio De Asuntos Exteriores Y De Cooperacion. p. 5. Retrieved 8 May 2014.
  4. ↑ Leong Hung Yee (13 June 2012). "Spanish firms to invest US$1.5bn in Malaysia". The Star. The Nation. Retrieved 8 May 2014.
  5. ↑ Belén Anca López (28 March 2014). "España refuerza relación con Malasia, donde se abren oportunidades económicas" (in Spanish). lavanguardia.com. Retrieved 8 May 2014.
  6. 1 2 3 "España anima a las empresas nacionales a buscar oportunidades en Malasia" (in Spanish). lainformacion.com. 28 March 2014. Retrieved 8 May 2014.
  7. ↑ "Spanish technology company GMV sets up new subsidiary in Malaysia". Spanish Railways News. 19 December 2013. Retrieved 8 May 2014.
  8. ↑ "España y Malasia incrementarán las relaciones comerciales mediante el turismo" (in Spanish). hosteltur.com. 14 April 2007. Retrieved 8 May 2014.
  9. ↑ "AGREEMENT BETWEEN THE KINGDOM OF SPAIN AND MALAYSIA FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME" (PDF). Inland Revenue Board of Malaysia. 1 January 2008. Retrieved 8 May 2014.
  10. ↑ "AGREEMENT BETWEEN THE KINGDOM OF SPAIN AND MALAYSIA FOR THE AVOIDANCE OF DOUBLE TAXATION AND THE PREVENTION OF FISCAL EVASION WITH RESPECT TO TAXES ON INCOME." (PDF). Ministerio De Hacienda Y Administraciones Publicas. Retrieved 8 May 2014.
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