Vietnam, Bulgaria discuss stronger cooperation
The deputy minister made the suggestion at the 21 st session of the Vietnam-Bulgaria inter-government committee on economic, trade and scientific and technological cooperation which opened in Hanoi on Nov. 18.
Vietnam and Bulgaria ’s two-way trade turnover in recent years has been modest at best, reaching just 48 million USD in 2006 and 46.2 million USD in 2007. This year’s turnover is predicted to improve on these figures, hitting 72 million USD. In contrast, Vietnam ’s total import-export turnover is estimated to stand at 144 billion USD by the end of 2008.
Vinh said the two countries’ weak level of cooperation is the result of a lack of information regarding each other’s policies, markets, customers and investment environment.
On the same day, the Vietnam-Bulgaria business forum took place, aiming to introduce the two countries’ economic situations, policies on investment attraction and the advantages they offer in terms of manufacturing and business operations.
Vietnam exports coal, coffee bean, tea, rice, pottery, textiles and seafood products to the Bulgarian market and imports a small amount of wheat, medicine, chemicals and iron and steel scrap from it, according to the Ministry of Industry and Trade.
However, cooperation between businesses from the two countries is still underdeveloped and is failing to tap into the potential on offer.
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