in 2011, the total malaysian exports to spain stood at $620 million while spanish exports to malaysia were worth around $320 million. 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. one of the spanish companies, gmv, is also involved in the development of the proposed high-speed train between kuala lumpur and singapore. major spanish exports to malaysia include electrical machinery, iron and steel, fertilisers, chemicals and textiles while major malaysian exports to spain include rubber, palm oil and electrical device components. both countries were also in the process to increase trade relations especially in tourism and the marine industry. an agreement on avoidance of double taxation and fiscal evasion has been signed between the two countries. there is also a malaysian spanish chamber of commerce and industry.