Bulgarian Prime Minister Plamen Oresharki began a four-day visit to Viet Nam on April 6 to discuss the implementation of a new economic model to raise bilateral relations to a strategic partnership level in the near future.

The new economic model was tabled for discussion during Bulgarian President Rosen Plevneliev’s visit to Ha Noi in October 2013. It gives priority to such areas as trade, investment, construction, agriculture, tourism and energy.

Under the proposed model, Vietnamese goods will be shipped to Bulgaria for processing at its ports and will be then exported to European markets. The new method is expected to make full use of the two countries’ potential and increase the efficiency of their economic and trade cooperation.

Bulgarian PM Plamen Oresharki says Bulgaria considers Vietnam an important partner in Southeast Asia

Two-way trade between Viet Nam and Bulgaria remains modest, at around US$70-80 million a year.

Bulgaria has 7 operational investment projects in Viet Nam totalling more than US$30 million, ranking it 57th among nearly 100 foreign investors in the country.

Some of its projects include a coffee processing plant in the Central Highland province of Lam Dong, and a garment factory in the central province of Thua Thien-Hue.

Bulgaria attaches importance to relations with Viet Nam, considering it an important gateway to Southeast Asia and Asia as a whole.

It established an economic-trade office in Ho Chi Minh City last October in an effort to raise bilateral trade ties to US$500 million in the coming years.

During PM Oresharki’s visit, Viet Nam and Bulgaria are scheduled to sign a number of documents on agricultural, cultural and tourism cooperation.

(Source: VOV)