Farmers harvest coffee beans in Dak Lak Province. Coffee is a major Vietnamese export to Bulgaria. — VNA/VNS Photo Huu Quyet

HA NOI (Biz Hub)  — Viet Nam is  one of  Bulgaria's most important economic partners in Southeast Asia and bilateral trade between the two countries have strong prospects for further development, a senior official said .

Addressing the Viet Nam-Bulgaria Business Forum in Ha Noi, Bulgarian Minister of Economy Bojidar Loukarsky called on business communities of both countries to fully exploit co-operation opportunities that arise, especially when the Viet Nam-EU Free Trade Agreement takes effect.

Agreeing with his guest, Vietnamese Minister of Industry and Trade Tran Tuan Anh said trade agreements that Viet Nam has inked with several countries and blocs would also open up huge opportunities for Bulgarian and Vietnamese enterprises to cement their relationships.

For its part, Viet Nam is committed to improving its legal framework and supporting enterprises' participation in trade and investment promotion campaigns, he said.

Bulgarian enterprises attending the forum expressed their interest in collaborating with Vietnamese partners in many sectors including banking, agriculture, pharmaceuticals, cosmetics, food processing and IT.

Viet Nam - Bulgaria trade has developed rapidly in recent years, from just US$18.5 million in 2006 to $100 million in 2015, the forum heard.

In the first eight months of this year, bilateral trade saw an increase of 88 per cent to $96.7 million. Of this, Vietnamese exports accounted for $31 million, up 19 per cent year-on-year, while imports from Bulgaria hit $65.6 million, up 157 per cent.

Viet Nam mainly exports coffee, pepper, cashew nuts, seafood and textile and garments to Bulgaria, while importing medicines, chemicals, machinery and equipment. — VNS