site.btaEconomy Minister: Bulgaria-Vietnam Trade Grows by 15% in First Half of 2025

Trade between Bulgaria and Vietnam increased by 15% in the first half of 2025 to nearly USD 145 million, Economy and Industry Minister Petar Dilov said on Thursday. He was speaking after meeting Nguyen Hong Dien, Vietnam’s Minister of Industry and Trade, during a high-level official visit by a Vietnamese delegation to Bulgaria, the Economy Ministry said.

Dilov noted that bilateral trade continues to make progress, with the 2024 volume exceeding USD 290 million, up 33.5% compared to 2023. "In the first half of 2025, total trade already amounts to USD 144.5 million, a 14.9% increase year-on-year. These figures, however, still fall short of the significant potential for expanding trade relations between the two countries," he said.

The two ministers discussed opportunities for closer cooperation in industrial production, high technology, automotive components, energy, healthcare, and services. Dilov noted that bilateral economic relations are developing dynamically, and Bulgaria is working to boost exports of traditional national products such as agricultural and food goods, essential oils, cosmetics, wine, mineral water and pharmaceuticals, alongside high value-added products like electronic components, medical devices, and electrical equipment.

"We also welcome Vietnamese investment in high-potential sectors such as high-tech manufacturing and services, information and communication technologies, electronics, electrical engineering, automotive production, agriculture, food processing, and tourism," Dilov said.

The ministers underscored that 2025 marks the 75th anniversary of the establishment of diplomatic relations between the Republic of Bulgaria and the Socialist Republic of Vietnam, a milestone in the long-standing friendship between the two countries.

They also discussed the upcoming 25th session of the Intergovernmental Joint Commission, to be hosted by Vietnam in autumn 2026. Plans include a parallel business delegation and bilateral forums in Hanoi and Ho Chi Minh City to further encourage direct cooperation between Bulgarian and Vietnamese companies.

"Our efforts are supported by the EU-Vietnam Free Trade Agreement (EVFTA), which entered into force on August 1, 2020, and the related EU-Vietnam Investment Protection Agreement (EVIPA), ratified by Bulgaria," Dilov said. These agreements, he explained, remove almost all tariffs, reduce non-tariff barriers, strengthen protection for investments and geographical indications, and provide a transparent framework for business cooperation. "They create excellent conditions for expanding trade and investment between Bulgaria and Vietnam within the broader EU-Vietnam partnership," he added.

The Vietnamese Minister of Industry and Trade was part of a delegation led by General Secretary of the Communist Party of Vietnam To Lam, who arrived on an official visit to Bulgaria at the invitation of President Rumen Radev. The visit marks the 75th anniversary of diplomatic relations between Bulgaria and Vietnam and is part of To Lam’s European tour, which also includes ministers and representatives of Vietnamese businesses.