Bulgaria prioritizes high-tech cooperation with Vietnam

Attending the meeting were Vietnamese Ambassador to Bulgaria Do Hoang Long, representatives from the Government Office, and some functional units under the Ministry of Industry and Trade (MoIT).

An overview of the meeting between Minister Nguyen Hong Dien and Bulgarian President Rumen Radev

Vietnam and Bulgaria have a long-standing friendly relationship, and in 2025, the two countries will celebrate the 75th anniversary of bilateral diplomatic relations. As a member of the European Union (EU), Bulgaria is willing to support Vietnam in economic and trade cooperation with the EU.

President Rumen Radev expects that the 24th session of the Vietnam-Bulgaria Intergovernmental Committee will generate new momentum and significant cooperation opportunities in the fields of economy, trade, investment, and other areas of mutual interest.

President Rumen Radev highly appreciated the results of cooperation between the Vietnamese MoIT and the Bulgarian Ministry of Economy and Industry in recent years. He suggested that the two ministries actively exchange information, share experience, and focus on finding solutions to overcoming difficulties and obstacles faced by businesses.

President Rumen Radev highly appreciates the results of cooperation between the Vietnamese Ministry of Industry and Trade and the Bulgarian Ministry of Economy and Industry in the recent period

The Bulgarian President believes that in addition to traditional fields, such as trade and investment, the two countries can also promote cooperation in other areas of potential, such as education and training, science and technology, high-tech agriculture, energy, defense industries, tourism, healthcare, and the supply of high-quality labor.

In recent decades, Bulgaria has successfully developed high technology, information technology, high-tech agriculture, and automation. Automation currently accounts for 20 percent of Bulgaria’s gross domestic product (GDP), with approximately 350 international businesses investing in Bulgaria. These companies produce a wide range of products, from complex machinery and automated control software to small and microsatellites.

Therefore, cooperation in the high-tech sector will also be a priority for Bulgaria. President Rumen Radev emphasized the need for both countries to specify cooperation models and frameworks in the Joint Communiqué of the 24th session of the Vietnam-Bulgaria Intergovernmental Committee.

Minister Nguyen Hong Dien affirms the great room for cooperation between Vietnam and Bulgaria

Minister Nguyen Hong Dien stated that the 24th session of the Vietnam-Bulgaria Intergovernmental Committee on Economic, Scientific and Technological Cooperation is taking place in a special context after a nine-year delay due to objective reasons, including epidemics. For Vietnam, the Intergovernmental Committee is an important mechanism to enhance bilateral cooperation for mutual development. Minister Dien expects this session will bring about many opportunities for cooperation in trade, investment, economy, as well as other areas of mutual interest.

Minister Dien emphasized that economic, trade and investment cooperation holds a significant position in the Vietnam-Bulgaria relationship and has grown significantly over the years, especially since the EU-Vietnam Free Trade Agreement (EVFTA) took effect on August 1, 2020.

However, according to Minister Nguyen Hong Dien, bilateral trade between Vietnam and Bulgaria remains incommensurate with the potential of each country, as well as their strong political and diplomatic ties. Specifically, Vietnam’s exports to Bulgaria in 2023 accounted for only 0.24 percent of Bulgaria’s imports, while Bulgaria’s exports to Vietnam represented just 0.018 percent of Vietnam’s import value. Minister Dien affirmed that there is still untapped potential for bilateral cooperation. Therefore, in order to achieve the goals set by the leaders of both countries during the official visit to Bulgaria in September 2023 by the Chairman of the Vietnamese National Assembly, and the official visit to Vietnam in January 2024 by the Chairman of the Bulgarian National Assembly, Minister Dien proposed:

Firstly, both sides should enhance reciprocal visits at various levels to strengthen relationships, deepen understanding, and promote comprehensive and close cooperation in areas where one side has advantages and the other has needs.

Secondly, both sides should create opportunities for businesses to connect and explore trade and investment opportunities. This can be achieved through trade fairs, exhibitions, and promotional activities that facilitate trade and investment.

Thirdly, both sides should support associations and businesses in understanding and maximizing the opportunities provided by the EVFTA. Efforts should be made to encourage the remaining EU member states to soon ratify the EU-Vietnam Investment Protection Agreement (EVIPA), paving the way for both sides to increased investment in each other’s markets.

Fourthly, it is proposed that both countries continue to support each other in multilateral, international, and regional forums. Bulgaria is encouraged to advocate for the early removal of the EU’s “yellow card” on IUU (Illegal, Unreported, and Unregulated) fishing for Vietnamese seafood exports. Bulgaria is also encouraged to support Vietnam’s position in resolving disputes in the East Sea, internationally known as South China Sea, through peaceful means and in accordance with international law.

Fifthly, relevant ministries and agencies of Vietnam and Bulgaria should be supported in research and development efforts to formulate cooperative frameworks in areas suggested by President Rumen Radev for deeper collaboration between the two sides.

Minister Nguyen Hong Dien and Bulgarian President Rumen Radev

President Rumen Radev in a commemorative photo with Minister Nguyen Hong Dien and members of the Vietnamese Ministry of Industry and Trade’s delegation

Minister Nguyen Hong Dien affirmed that the working groups will not only exchange ideas to incorporate new areas of cooperation into the agreements of the 24th Vietnam-Bulgaria Intergovernmental Committee Session, but also translate them into action through specific action programs and cooperation plans. These initiatives will be guided by the directions and commitments of both sides, aiming to elevate the bilateral relationship to new heights.

On this occasion, Minister Nguyen Hong Dien reiterated the invitation for a formal visit from high-level leaders of Vietnam to President Rumen Radev. The Bulgarian President accepted the invitation and said that Bulgaria is preparing for this visit.

A delegation of major businesses will accompany the Bulgarian President during his visit to Vietnam. President Rumen Radev hoped that Bulgarian businesses will consider Vietnam as a gateway to the Southeast Asian region, encompassing trade, tourism, and investment opportunities in areas of mutual interest. After the visit, Vietnamese businesses are expected to view Bulgaria as an attractive investment destination within the EU region, serving as an effective bridge between Europe and Asia.