Bulgaria economy minister meets with Vietnamese ambassador

 Bulgarian Minister of Economy Bozhidar Lukarski held a meeting with H.E. Nguyen Thi Hong Oanh, Ambassador of the Socialist Republic of Vietnam to Bulgaria, the press centre of the ministry announced.
“Bulgaria has always voiced its support for the signing of a free trade agreement between Vietnam and the EU. We will continue maintaining this stance until it is inked,” said Minister Lukarski, speaking at the meeting.
“This agreement will be highly beneficial for the relations between Vietnam and Bulgaria as an EU country. We hope this will create new opportunities for business in both countries,” the ambassador remarked.
In her words, it is expected the agreement will be a fact in 2018.
Nguyen Thi Hong Oanh commented Vietnam had achieved considerable successes in its economic and social and political development in the past year.
The country had a record-high economic growth of 6.68% in its history in 2015.
The unemployment level stands at about 4%, while direct foreign investments are estimated at USD 15.6 billion.
“We signed a number of free trade agreements with the Republic of Korea, the Eurasian Economic Union, the Trans-Pacific Partnership (TPP) with the USA and 10 other countries,” the Vietnamese official noted.
In her words, the stable prospects for development Vietnam has are an opportunity to boost bilateral relations with the EU and Bulgaria in particular.
“The strengthening of trade and economic relations between our two countries is a priority for us. We fully back the idea of establishment of a new model of economic cooperation,” the ambassador pointed out further.
In her view, Bulgarian-Vietnamese merchandise exchange is good but has not yet developed its full potential.
Minister Lukarski and Nguyen Thi Hong Oanh negotiated an official visit of his and a delegation of Bulgarian companies to Vietnam in the autumn to identify and take advantage of new opportunities.
The first sitting of the working group formed at the 23rd sitting of the Bulgarian-Vietnamese Intergovernmental Commission on Economic Cooperation will be held during the visit.
The main goal of the working group is ensuring the realisation of all things agreed at the session.
Merchandise exchange in 2015 was estimated at a total of USD 92.7 million. Bulgarian exports amounted to USD 42.7 million of that sum, which is an increase of 71.6% compared to 2014.
Imports from Vietnam in 2015 amounted to USD 50 million, which is a decrease of 26.5% compared to 2014.
Bulgarian exports to Vietnam can increase in a number of fields: chemical industry, machine engineering, pharmaceutical industry, light industry, and agriculture.
Joint ventures can be established in cigarette and tobacco products manufacturing, fruit juices, beer, medications productions in Vietnam as well as textile manufacturing, coffee production, and shoe manufacturing in Bulgaria.

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