If both countries succeed in elevating their bilateral ties, their textile trade may also get a boost. Being a consumer country of textile products, Bulgaria may become an important market for the partner country.
Both nations are set to celebrate 75th anniversary of their diplomatic relations next year. Addressing an event in Vietnamese capital Hanoi, Radev said that the Bulgarian government is looking to invite and support Vietnamese enterprises which are planning to invest in European and American countries.
In terms of textile trade, Vietnam is one of major textile exporting countries in the world and Bulgaria is a consumer country. The European country has population of around 6.4 million and GDP of $248 billion. Its impressive per capita income of $39,185 makes it an important market.
Bulgaria imported apparel of $497.870 million, textiles of $471.289 million and home textiles of $124.757 million in January-August 2024, according to Fibre2Fashion's market insight tool TexPro.
Bulgarian imports from Vietnam is negligible at present. It imported fabric of $3.824 million, home textiles of $351,280 and apparel of $10,195 in the first eight months of the current year, as per TexPro.
ALCHEMPro News Desk (KUL)
Receive daily prices and market insights straight to your inbox. Subscribe to AlchemPro Weekly!
marketing@alchempro.com
