|A Vietnamese firm introduces its products to foreign customers.
The tour is arranged by the Ministry of Industry and Trade in collaboration with the Vietnamese Embassies in Romania and Bulgaria, and partners in the host nations.
The event takes place on the occasion of the 16th meeting of the Vietnam - Romania joint committee on economic cooperation in early October in Romania and in preparation for the 24th meeting of the Vietnam-Bulgaria inter-governmental committee slated for November in Bulgaria.
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.