NEWS

Bulgaria and Vietnam Will Encourage Mutual Investments and Bilateral Trade

Bulgaria and Vietnam are determined to capitalize on the potential of the active political dialogue on all levels and to start developing their bilateral relations. Our country can use Vietnam as a “stepping stone” to enter the ASEAN markets and Bulgaria can act as a doorway for the Vietnamese business to the EU. This was the common position shared by President Rosen Plevneliev and Nguyen Xuan Phuc, prime minister of the Socialist Republic of Vietnam, who held talks in the capital of Mongolia Ulan Bator. The Bulgarian Head of State is on a working visit to Mongolia to take part in the meeting of the state and government leaders of the member-states of the Asian-European Meeting (ASEM).

“We are united in our efforts to enrich the Joint declaration and the adopted annex to it to establish a “new model of economic cooperation” between Bulgaria and Vietnam,” Rosen Plevneliev said. The documents were adopted during the Bulgarian President’s state visit to the Asian country in October 2013.  A favorable condition for further strengthening of the economic ties between Vietnam and the European countries is also the signing of the EU-Vietnam free trade agreement, it emerged at the meeting. “Bulgaria will work towards its fast signing and will be one of the first countries to ratify it,” Rosen Plevneliev emphasized.

“We can offer the Vietnamese business the best conditions for settling down in the EU, both regarding the tax expenditures and the logistics expenditures,” the President further said. Our country is also ready to support the joint production of Bulgarian and Vietnamese companies for the European market, it became further clear from the Head of State’s words. The high economic growth and improved business environment in Vietnam create favourable conditions for increasing Bulgarian investments in the country, it emerged at the talks. Bulgarian companies show an interest in the production of foods and tobacco products, in the pharmaceutical, chemical and textile industries, in the extracting sector, the design and delivery of irrigation systems and in infrastructure construction in the Asian country.

Rosen Plevneliev and Nguyen Xuan Phuc highly appreciated the bilateral cooperation in security and defence. Police officers and cadets from Vietnam undergo training in Bulgaria due to a signed bilateral agreement in this area. In the Head of State’s opinion, Bulgaria and Vietnam may strengthen the partnership in the sphere of maintaining armaments and military equipment.

The two shared the opinion that the good cooperation in education and science can be further enhanced by strengthening the contacts between universities and increasing the academic exchange of students and postgraduate students. “Bulgaria has strong traditions is education and hopefully more Vietnamese students will get scholarships so that they can study at Bulgarian universities,” Nguyen Xuan Phuc said. Rosen Plevneliev said that the Vietnamese citizens who studied, specialized and worked in Bulgaria, which amount to about 30,000 people, are a “great asset” not only for Bulgaria, but also for Vietnam.  “Currently a considerable part of them occupy leading positions in Vietnam and by sharing their experience and knowledge, they are a real bridge that brings our two countries closer together,” the President said.

During the meeting President Rosen Plevneliev voiced Bulgaria’s concern over the tensions in the South China Sea. “Our country considers extremely important ensuring peace and security in the region and guaranteeing maritime security and the safety of navigation and observing international legal norms and the free  legal trade in the South China Sea,” Rosen Plevneliev said. The Head of State called on all sides to show restraint, to respect the rule of law to ensure the safety of navigation and seek a solution by peaceful means and in compliance with international law.