Việt Nam is one of Bulgaria’s most important economic partners in Southeast Asia and bilateral trade between the two countries have strong prospects for further development, a senior official said yesterday.
Addressing the Việt Nam-Bulgaria Business Forum in Hà Nội, Bulgarian Minister of Economy Bojidar Loukarsky called on business communities of both countries to fully exploit co-operation opportunities that arise, especially when the Việt Nam-EU Free Trade Agreement takes effect.
Agreeing with his guest, Vietnamese Minister of Industry and Trade Trần Tuấn Anh said trade agreements that Việt Nam has inked with several countries and blocs would also open up huge opportunities for Bulgarian and Vietnamese enterprises to cement their relationships.
For its part, Việt Nam is committed to improving its legal framework and supporting enterprises’ participation in trade and investment promotion campaigns, he said.
Bulgarian enterprises attending the forum expressed their interest in collaborating with Vietnamese partners in many sectors including banking, agriculture, pharmaceuticals, cosmetics, food processing and IT.
Việt Nam-Bulgaria trade has developed rapidly in recent years, from just US$18.5 million in 2006 to $100 million in 2015, the forum heard.
In the first eight months of this year, bilateral trade saw an increase of 88 per cent to $96.7 million. Of this, Vietnamese exports accounted for $31 million, up 19 per cent year-on-year, while imports from Bulgaria hit $65.6 million, up 157 per cent.
Việt Nam mainly exports coffee, pepper, cashew nuts, seafood and textile and garments to Bulgaria, while importing medicines, chemicals, machinery and equipment. -VNS
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