Bulgaria will support the ratification of the EU - Vietnam Free Trade by the countries that have not signed it yet and will contribute to the successful intruduction of Vietnamese goods in the European market, said Deputy Minister of Economy and Energy Krasin Dimitrov opening a Bulgarian-Vietnamese business forum in Sofia.
The focus of the event was "Restoring traditional markets and new opportunities for business cooperation". Besides honored guests at the event were the Ambassador of Vietnam in the Republic of Bulgaria Hon. Mr. Le Duc Lu, Deputy Minister of Economy and Energy Mr. Krasin Dimitrov and Deputy Minister of Industry and Trade of Vietnam Mrs. Ho Thi Kim Thoa.
During the forum, the Executive Director of the Bulgarian Investment Agency Svetoslav Mladenov promoted a presentation on the subject "Bulgaria - investment climate and business opportunities", drawing the attention to the advantages of investing in the country. References were made to the country's membership in the EU and NATO and the currency board that form a stable political and economic climate, low budget deficits and foreign debt, as well as access to the EU market. The steady GDP growth, low levels of taxation and low prices of the natural gas and electricity used in the industry also create opportunities to attract foreign investors.
Within 2012-2013, the trade turnover between the two countries is estimated at USD 63-64 million, of which our export is calculated at the mount of USD 23 million or slightly more than a third. For the first quarter of 2014, our export is USD 6 million, and the trade turnover is of USD 24 million.
Vietnam exports products such as coffee, rubber and rubber products, fish and frozen fish products and seeds to Bulgaria, and imports copper semifinished goods, medicines, printing equipment, plant protection compounds. The existing export potential could be increased in the field of machinery construction, pharmacy, light industry and food processing.