Trade between Bulgaria and Vietnam increased by 15% in the first half of 2025, reaching nearly USD 145 million
Opportunities for enhancing bilateral economic relations and encouraging partnerships between Bulgarian and Vietnamese companies were discussed by Minister of Economy and Industry Peter Dilov and Nguyen Hong Dien, Minister of Industry and Trade of the Socialist Republic of Vietnam. The meeting took place as part of an official high-level visit of a Vietnamese delegation to Bulgaria.
It was noted that in the field of trade, Bulgaria and Vietnam continue to make progress: in 2024, bilateral trade exceeded USD 290 million, marking a 33.5% increase compared to 2023. “In the first half of 2025, total trade already amounts to USD 144.5 million, an increase of 14.9% year-on-year. These figures, however, still do not reflect the significant potential for expanding trade relations between our two countries,” said Minister Dilov. The two ministers also discussed the potential for more active cooperation in areas of mutual interest such as industrial production, high technologies, automotive components, energy, healthcare, services, and others.
Dilov highlighted that bilateral economic relations are continuing to develop dynamically, noting Bulgaria’s efforts to expand exports of traditional Bulgarian products – including agricultural and food goods, essential oils, cosmetics, wine, mineral water, and pharmaceuticals, as well as products with higher added value such as electronic components, medical devices, and electrical equipment.
“We also welcome Vietnamese investment in high-potential sectors – high-tech manufacturing and services, information and communication technologies, electronics and electrical engineering, automotive production, agriculture and food processing, and tourism,” the Minister of Economy emphasised.
Both ministers noted that 2025 marks the 75th anniversary of the establishment of diplomatic relations between the Republic of Bulgaria and the Socialist Republic of Vietnam, an important milestone in the long-standing friendship between the two countries.
The parties also discussed preparations for the 25th session of the Intergovernmental Joint Commission, to be hosted by Vietnam in the autumn of 2026. They considered organising an accompanying business delegation and holding bilateral business forums in Hanoi and Ho Chi Minh City to further encourage direct cooperation between companies from both countries.
“Our joint efforts are also supported by the EU-Vietnam Free Trade Agreement (EVFTA), which entered into force on 1 August 2020, and the related EU-Vietnam Investment Protection Agreement (EVIPA), which has been ratified by Bulgaria,” stated Minister Dilov. According to him, these agreements eliminate almost all tariffs, reduce non-tariff barriers, strengthen investment and geographical-indication protection, and create a transparent framework for business cooperation. “The agreements provide excellent conditions for expanding trade and investment between Bulgaria and Vietnam within the broader EU-Vietnam partnership,” he underlined.
Deputy Minister of Economy and Industry Dontcho Barbalov also took part in the meeting.