Bulgarian businesses will have more chances to increase their operations in Vietnam and the Southeast Asian region at large following the formation of a Bulgarian economic and trade office in Ho Chi Minh City.

Bulgarian President Rosen Plevneliev, who is on an official visit to Vietnam, and Vice Chairperson of the HCM City People’s Committee Nguyen Thi Hong cut the ribbon at the office’s opening ceremony on October 31.

Addressing the event, the President described the establishment of the office as a sound and timely initiative to help realise important cooperative documents reached by the two countries and direct their relationship towards a strategic partnership and a new economic cooperation model.

Bulgaria considers the cooperation with Vietnam a significant task and a strategic basis to expand its presence in Southeast Asia and Asia as a whole, he said.

The leader committed to making it easier for Vietnamese goods to enter Bulgaria and then penetrate other European countries.

Bulgarian businesses wish to invest in Vietnam and cooperate with Vietnamese partners in all areas of mutual concern, he said, noting that the two countries have agreed to raise bilateral trade turnover from the current 60 million USD to 500 million USD in the coming time.

For her part, Hong said the office marks a new height in economic and trade ties between Bulgaria and Vietnam in general and HCM City in particular.

She expressed her hope that with a strong contingent of businesses operating in various fields, HCM City will contribute to boosting economic and trade ties between the two countries.

The same day, Rosen Plevneliev and his entourage visited the historical relic site of Cu Chi underground tunnel and Ben Duoc Temple.

Earlier on October 30, the President attended an artistic programme at the HCM City Conservatory of Music staged by Bulgarian artists and met with Vietnamese people who once worked or studied in Bulgaria.-VNA