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Bulgarian President looks to further ties with Vietnam

VNA - Bulgarian President Georgi Parvanov will pay an official visit to Vietnam from January 29-31, making him the first State-level foreign guest to the country on the first days of its traditional new year.

Georgi Parvanov will be the first Bulgarian head of state to visit Vietnam since 1979. He is scheduled to hold talks with State President Nguyen Minh Triet and meet with Party General Secretary Nong Duc Manh, Prime Minister Nguyen Tan Dung and National Assembly Chairman Nguyen Phu Trong.

The Bulgarian President is expected to discuss with Vietnamese leaders specific measures to further the two countries’ traditional friendship and multi-faceted cooperation, especially in the fields of economics, trade, agriculture, education and labour, along with regional and international issues of mutual concern.

Vietnam and Bulgaria established their diplomatic ties in February, 1950 and Bulgaria had since then given Vietnam both material and spiritual support in the latter’s national liberation and defence cause.

Bilateral relations have been growing rapidly with the exchange of visits by high-ranking delegations.

The two countries have also signed agreements on economic cooperation, investment encouragement and protection, double taxation avoidance and cooperation in health care and maritime transport.

Vietnam and Bulgaria ’s trade relation remains limited, however, it is also growing fast. Bilateral trade turnover in 2006 more than doubled to 48 million USD from the previous year’s figure of 22 million USD and surged to 100 million USD in 2008.

Vietnam exports to Bulgaria coal, coffee, rubber, seafood, foodstuff, bamboo products, pepper, cashew nuts, textile products and clothes and imported chemical products, medicines, wine, machines and shipping equipment.

By August 2008, Bulgaria had five investment projects in Vietnam with a total registered capital of nearly 12.9 million USD.

Bulgaria currently ranks 56 th among 81 countries and territories investing in Vietnam./.

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