Sofia Hosted Round Table Entitled ‘Towards More Meaningful and Effective Economic Relations Between Vietnam and Bulgaria

A Round Table was held in Sofia with the following motto: ‘From Potential to Real Partnerships and Sustainable Economic Cooperation Between Bulgaria and Vietnam’; it was organized by the Executive Agency for the Promotion of Small and Medium-Sized Enterprises (EAPSME) in partnership with the Embassy of the Socialist Republic of Vietnam in the Republic of Bulgaria.

Over 70 representatives of the diplomatic circles, institutions, business organizations and companies from Bulgaria and Vietnam took part in the event. The main focus of the discussions was on the opportunities to expand bilateral trade, to encourage investments and to establish more active business contacts between companies from both countries.

During the official opening, Borislav Dimitrachkov, Deputy Executive Director of the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA), emphasized that Vietnam is among the most dynamically developing economies in Southeast Asia and offers significant opportunities for trade and investments. On its part, Bulgaria provides a stable business environment and strategic access to the single European market.

H.E. Ms Nguyen Thi Minh Nguyet, Extraordinary and Plenipotentiary Ambassador of the Socialist Republic of Vietnam in Bulgaria, expressed her gratitude for the good cooperation with Bulgarian institutions and emphasized the existence of favourable conditions for expanding the presence of Bulgarian companies in the Vietnamese market.

Bulgaria’s investment and economic policy on the Asian market and Vietnam was presented by Yuliyan Balchev, Secretary General of the Bulgarian Investment Agency.

During the Forum, Gabriela Dimitrova, Director of the ‘International Cooperation and International Organizations’ Directorate at the Bulgarian Chamber of Commerce and Industry (BCCI), presented the following topic: ‘Potential of Bulgarian Enterprises and Proposals for Strengthening the Relations Between Bulgarian and Vietnamese Companies.’

The Presentation pointed out that Bulgaria and Vietnam maintain traditionally good relationships and the EU-Vietnam Free Trade Agreement creates new opportunities for the development of bilateral economic cooperation.

An analysis of the bilateral trade between the two countries was presented as well. The data show steady growth in the exchange of goods over the past few years — from 123.3 million US Dollars in 2020 to 292 million US Dollars in 2024, with keeping high levels in 2025. At the same time, a significant imbalance in favour of Vietnamese export was recorded, which emphasizes the need for more active stimulation of Bulgarian export to Vietnam.

The following sectors were cited among the sectors with the greatest potential for cooperation:

•    information technologies and digitalization;

•    mechanical engineering and industrial production;

•    the pharmaceutical industry and cosmetics;

•    the food and beverage industry and agriculture;

•    tourism and education.

BCCI presented also its active role in encouraging bilateral economic relations by organizing business forums, B2B meetings, trade missions, dissemination of information about business opportunities and assistance in establishing direct contacts between companies from both countries.

During the discussion, the main challenges to cooperation were also considered, including the limited awareness among businesses, the insufficient direct contacts, the logistic difficulties — the lack of any direct airplane connection, the visa requirements and the differences in the business environment and regulatory regimes.

The representatives of the Vietnamese Embassy in Sofia confirmed that as from 15 August 2025 and in force until 14 August 2028, Bulgarian citizens can travel to Vietnam without a visa for the purpose of tourism for a period of up to 45 days, provided they meet the other requirements for entry into the country, including a valid passport with at least six-month validity prior to the date planned for departure from Vietnam.

It was emphasized that Bulgaria can serve as a strategic entry point for Vietnamese companies into the European market, while Vietnam provides access to the rapidly developing Asian region.

The Round Table finished with a lively discussion and an exchange of proposals for future joint initiatives aimed at a closer and more sustainable economic partnership between Bulgaria and Vietnam.