site.btaHead of Bulgarian Chamber of Commerce and Industry Highlights Potential for Expanded Cooperation with Vietnam

Bulgaria and Vietnam have built solid experience in their bilateral relations, but there is also significant room to expand cooperation between them, emphasized Tsvetan Simeonov, Chairman of the Bulgarian Chamber of Commerce and Industry (BCCI), during a Bulgarian-Vietnamese Economic Cooperation Forum in Sofia on Thursday. The event marked the 75th anniversary of the establishment of diplomatic relations between Bulgaria and Vietnam and was organized by the BCCI and the Vietnamese Embassy in Sofia.

Simeonov said Bulgarian institutions should acknowledge the strong cooperation with Vietnam in various fields from the past, while the business communities of both countries should be well informed about the opportunities provided by existing EU agreements, including those involving Bulgaria, with Vietnam.

“Seventy-five years is a long period during which we have accumulated substantial experience in relations with Vietnam. At the BCCI, we focus on the economic sphere, but it is also important to mention other areas in which we have had excellent cooperation and which should now be acknowledged by Bulgarian institutions so they can develop and expand. Many Vietnamese students have studied in Bulgaria, many Vietnamese workers have contributed to the Bulgarian economy and companies. According to statistics, during the 1980s there were over 35,000 Vietnamese workers in Bulgaria,” Simeonov said.

He described this as “capital for our bilateral relations” and called for broader use of the agreements concluded in the social and labour resources sectors.

“There is still great potential for the development and expansion of cooperation,” the BCCI Chairman believes. Among the identified areas for development, according to the information he provided, are tourism; exports from Bulgaria to Vietnam of agricultural processing machinery; and cosmetics.

Simeonov emphasized the importance of both sides informing their business communities about the existing agreements between the EU (including Bulgaria) and Vietnam.

“The two most important agreements for Bulgaria are the Free Trade Agreement and the Agreement on Mutual Protection of Investments,” he specified.

He noted that the trend of relocating European outsourced production to Vietnam from other Asian countries is proof of more reliable order fulfilment in both production and delivery times.

He assured the Vietnamese delegates present that they have a good partner in the Bulgarian Chamber of Commerce and Industry.