Vietnam, Bulgaria to boost trade cooperation

October 12, 2011 | 10:00

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The Vietnam Chamber of Commerce and Industry (VCCI) and the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) hosted a forum in Hanoi on Oct. 11 to boost Vietnam-Bulgaria cooperation in trade and investment.

Addressing the event, Boriana Mintcheva, Head of BSMEPA International Cooperation and Project Division highlighted the competitive edge of the Bulgarian economy thanks to its strategic location in southeastern Europe as well as its investment and tax incentive policies for foreign investors.

At present, Bulgaria mainly exports machinery, medical technology and pharmaceutical products to Vietnam while Vietnam’s exports to Bulgaria are mostly coffee beans, pepper and seafood, Mintcheva said.

Nguyen Hoa Cuong, Vice Director of Business Development Department under the Ministry of Planning and Investment underlined that last year, Bulgaria only invested in eight projects in Vietnam, which remains modest compared to the two countries’ relations, adding he hopes the forum will help increase the capital flow from Bulgaria.

At the event, VCCI and BSMEPA signed a cooperation agreement to create conditions for the two countries’ businesses to enhance investment cooperation in the near future.