Round table "Towards More Meaningful and Effective Economic Relations between Vietnam and Bulgaria" was held in Sofia

Under the motto "From Potential to Real Partnerships and Sustainable Economic Cooperation between Bulgaria and Vietnam," a round table discussion was held in Sofia, organized by the Executive Agency for the Promotion of Small and Medium-Sized Enterprises (BSMEPA) in partnership with the Embassy of the Socialist Republic of Vietnam in the Republic of Bulgaria.

The main focus of the discussions was on opportunities to expand bilateral trade, promote investment, and establish more active business contacts between companies from both countries.

During the official opening, Borislav Dimitrachkov, Deputy Executive Director of BSMEPA, emphasized that Vietnam is among the most dynamically developing economies in Southeast Asia and offers significant opportunities for trade and investment. For its part, Bulgaria provides a stable business environment and strategic access to the single European market.

H.E. Ms. Nguyen Thi Minh Nguyet, Ambassador Extraordinary and Plenipotentiary of the SR of Vietnam to Bulgaria, expressed gratitude for the good cooperation with Bulgarian institutions and highlighted the existence of favorable conditions for expanding the presence of Bulgarian companies in the Vietnamese market.

The investment and economic policy of Bulgaria towards the Asian market and Vietnam was presented by Yuliyan Balchev, Secretary General of the InvestBulgaria Agency.

Within the framework of the forum, Gabriela Dimitrova, Director of the "International Cooperation and International Organizations" Directorate at the Bulgarian Chamber of Commerce and Industry (BCCI), presented the topic "Potential of Bulgarian Enterprises and Proposals for Strengthening Ties between Bulgarian and Vietnamese Companies."

The presentation noted that Bulgaria and Vietnam maintain traditionally good relations, and the EU-Vietnam Free Trade Agreement creates new opportunities for the development of bilateral economic cooperation.

An analysis of bilateral trade between the two countries was also presented. The data shows steady growth in trade turnover in recent years – from USD 123.3 million in 2020 to USD 292 million in 2024, maintaining high levels in 2025. At the same time, a significant imbalance in favor of Vietnamese exports was reported, highlighting the need for more active promotion of Bulgarian exports to Vietnam.

Among the sectors with the greatest potential for cooperation were:

• Information technology and digitalization;
• Mechanical engineering and industrial manufacturing;
• Pharmacy and cosmetics;
• Food industry and agriculture;
• Tourism and education.

BCCI also presented its active role in promoting bilateral economic relations by organizing business forums, B2B meetings, trade missions, disseminating information on business opportunities, and assisting in the establishment of direct contacts between companies from both countries.

During the discussion, the main challenges to cooperation were also addressed, including limited awareness between businesses, insufficient direct contacts, logistical difficulties – such as the lack of a direct flight connection, visa requirements, and differences in the business environment and regulatory regimes.

The representatives of the Embassy of Vietnam in Sofia confirmed that from August 15, 2025, and in effect until August 14, 2028, Bulgarian citizens can travel visa-free to Vietnam for tourism purposes for a period of up to 45 days, provided they meet the remaining entry requirements, including a valid passport with at least 6 months of validity remaining before the planned date of departure from Vietnam.

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

The round table concluded with an active discussion and exchange of proposals for future joint initiatives aimed at a deeper and more sustainable economic partnership between Bulgaria and Vietnam.