Opportunities and Prospects for Bulgaria Provided by the EU-Vietnam Free Trade Agreement

Abstract

As the process of ratification of the EU-Vietnam Free Trade Agreement is almost complete, the article aims at disclosing the prospects which the FTA provides for Bulgaria. The article firstly presents some insights from economic literature on the benefits of Free trade agreements. It then discusses the development of the institutional framework of trade relations between the EU and Vietnam, presents briefly the main features of the EU-Vietnam FTA and the current trends in the bilateral trade between Bulgaria and Vietnam. Finally some conclusions are drawn on the opportunities and prospects which the Agreement presents in front of Bulgaria.