Bulgaria and Vietnam to increase bilateral economic cooperation

After Bulgarian President Rumen Radev and Vietnamese Minister of Industry and Trade Nguyen Hong Dien met here on Monday, the two agreed that Bulgaria and Vietnam will work to further deepen bilateral economic exchanges and mutual investments, the President's press service reported.

Nguyen Hong Dien is also chair on the Vietnamese side of the Bulgarian-Vietnamese Intergovernmental Joint Commission for Trade, Economic, Scientific and Technological Cooperation. He heads a delegation that is in Bulgaria for the 24th session of the Commission in Sofia on Monday and Tuesday.

Radev highlighted Vietnam's rapid industrialization process over the past decades and the sustained high annual growth of the economy, which can serve as an example and create favourable conditions for further development of the bilateral partnership with Bulgaria in areas such as IT, production of high-tech components and software for the automotive sector, defence industry, agriculture and food production. The head of State also underlined Bulgaria's interest in raising bilateral relations to the level of a strategic partnership.

The meeting highlighted the historical ties between the two countries, which are a solid foundation for the development of bilateral relations. Nguyen Hong Dien once again invited Radev to visit Vietnam. Radev confirmed that he will do so with a delegation of representatives of leading Bulgarian companies.

The meeting agenda included bilateral cooperation in education, science and tourism. The participants confirmed they have a mutual interest in expanding cultural and educational exchanges.