The Hanoi times – Bulgarian Minister of Economy Bonzidar Lukarsky appreciated that the Vietnam-Bulgaria Business Forum held in Hanoi on October 17 serves as a good chance for enterprises of the two countries to learn about each other market, approach and take advantage of cooperation and investment opportunities in various fields.
The Vietnamese Ministry of Industry and Trade organized the Vietnam-Bulgaria Business Forum in Hanoi on October 17 to seek opportunities for investment and cooperation in various field during the visit of a Bulgarian business delegation to Vietnam led by Minister of Economy Bonzida
Speaking at the forum, Minister of Industry and Trade Tran Tuan Anh emphasized the importance of bilateral cooperation between the two countries in the recent years, and highlighted the potential of bilateral trade and investment.
Minister Tran Tuan Anh noted the structure of goods between Vietnam and Bulgaria has been more diverse on categories and recorded positive changes in the added value.
The minister vowed to create favorable conditions and a simpler legal framework for economic cooperation activities between the two nations as well as study incentives to help the two countries’ businesses to approach and carry out trade investment and promotion programs effectively.
He also recommended Bulgaria to encourage and help agencies and enterprises of the two countries to connect and cooperate in fields of the two countries’ strength and need, including transport infrastructure, irrigation development, materials for garments and textiles, electricity resources development, chemicals and pharmaceuticals.
Vietnam’s major export goods to Bulgaria include coffee, garment and textiles, seafood, pepper and cashew while importing pharmaceuticals, chemicals, pesticides, wheat, and machinery.
However, despite rapid growth in recent years, the trade exchange has been modest and yet to match the potential.
According to the statistics from the General Department of Customs, by the end of August, 2016, the two-way trade exchange between Vietnam and Bulgaria reached 96.7 million USD, up 88 percent from 2015.
Of which, Vietnam’s export value reaches only 31 million USD, a 19-percent increase from 2015, and imported the amount of goods worth 65.6 million USD, up 157 percent from the previous year.
Addressing the event, Minister Bonjidar Lukarsky appreciated the forum is considered as a good chance for enterprises of the two countries to learn about each other market, approach and take advantage of cooperation and investment opportunities in many fields.
Bonjidar Lukarsky highlighted that the trade prospect between the two countries is bright, especially as a number of bilateral and multilateral free trade agreements between Vietnam and countries in the region and the world have been signed recently.
Vietnam is one of Bulgaria’s key economic partners in Southeast Asia, he said, adding that Bulgarian enterprises are interested in conditions and investment incentives in Vietnam, especially institution, business environment and support mechanism.