|A traditional dance performed by Bulgarian artists during a carnival held in Đắk Lắk Province as part of the Gong Cultural Festival in March 2017. VNA/VNS Photo Dương Giang|
HÀ NỘI — Bulgaria was one of the first 10 countries to establish diplomatic ties with Việt Nam. The two countries officially formed relations on February 8, 1950.
An official visit to the European country by late President Hồ Chí Minh in August 1957 laid the foundation for bilateral ties.
In recent years, Bulgaria has focused on co-operation with Việt Nam as part of its diplomatic policies towards strengthening relations with Asian countries.
The two sides have maintained mutual visits at all levels, especially high-ranking delegations, consultations on issues of common concern and co-operation at international and regional forums, particularly within the framework of the United Nations, ASEAN-EU co-operation and the Asia-Europe Meeting.
At high-level talks between officials, Bulgaria has expressed its wish to elevate relations with Việt Nam to a strategic partnership.
Total import-export turnover between the two countries reached US$88.59 million in 2018.
The main Vietnamese products exported to Bulgaria include cotton, coffee beans, natural rubber, rice and electronic components.
Việt Nam imports scrap iron, chemicals, micro-organisms, western and veterinary medicine.
Bulgaria is a potential market with preferential policies to attract investment. Vietnamese who used to study and work in Bulgaria are a bridge linking the two nations’ businesses.
As of December 2018, Bulgaria had nine valid direct investment projects in Việt Nam with total registered capital of $30.99 million, ranking 65th out of 129 countries and territories investing in Việt Nam. — VNS