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It aims to help Vietnamese enterprises update themselves with information about
the two markets and the EU-Vietnam Free Trade Agreement (EVFTA), with a view to
outlining optimal business strategies in Romania and Bulgaria in specific and
the EU as a whole.
During the trip, the group held a Vietnam - Romania business forum in Bucharest
on October 4, and will organize a similar event in Sofia on October 7. Besides,
they will work with several wholesale and retail chains, seafood importers,
mechanical plants and financial institutions in the two countries.
With a population of 21 million, the 7th largest in EU, Romania is the biggest
market in southern Europe. Having favourable geographic conditions, Romania is a
gateway for trade flow to the EU nations with over 500 million consumers. In
recent years, Vietnam and Romania have
enjoyed thriving economic-trade cooperation thanks to the complementary natures
of the two markets.
Meanwhile, Bulgaria is one of the first EU countries to approve the Vietnam-EU
Framework Agreement on Comprehensive Partnership and Cooperation (PCA). Their
economic-trade ties have witnessed positive development recently, but two-way
trade still lags behind their potential and expectations. Leaders of the two
countries have agreed upon a new model for economic cooperation, under which
Vietnam can export some products of its strength to Bulgaria, after that they
will be processed at Bulgarian ports before being sold in the European markets
and the Balkan peninsula.
Source: VNA
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