Bilateral trade between Bulgaria and the USA has great potential for development. The American market is among the main export destinations for Bulgarian high-tech products. This was stated by the Minister of Economy and Industry Bogdan Bogdanov during a meeting with a trade and investment delegation from 15 leading American companies, the ministry announced. The visit is one of the largest in recent years and is organized by the American-Central European Business Association (ACEBA) and the US Department of Commerce, the department said.
During the meeting, the possibilities for promoting investments and partnership between the two countries in the sphere of trade, military industry, pharmaceutical sector, finance, energy, infrastructure modernization and others were discussed.
The Minister of Economy introduced the representatives of American companies to the advantages of our country as an investment destination. He highlighted the favorable tax policy, the growing geostrategic importance, as well as Bulgaria’s opportunities to become a transport and logistics hub in the region.
Bogdanov emphasized the vision of the Ministry of Economy for the development of industrial zones in our country, through which new investment projects can be attracted. “We will create two new industrial zones in Dobroslavtsi and in Stara Zagora, applying the best practices of international institutions such as the World Bank or the European Bank for Reconstruction and Development (EBRD). They will be specialized in specific sectors such as the automotive industry and have opportunities for the development of research and development activity,” emphasized Bogdanov. According to him, an opportunity will be opened for a public-private partnership with international or local investors who are interested in building them in partnership with the state.
Bogdanov assured the representatives of the American delegation that the Bulgarian country is working for a stable and predictable business environment and for the creation of conditions for attracting investments in productions with high added value.
The minister announced that Bulgaria is about to send trade attachés to the USA, who will work to activate bilateral trade relations, which have extremely high potential.
During the meeting, Minister Bogdanov highlighted the three main priorities on which the Bulgarian government is working, related to the acceptance of our country into the Schengen area, its accession to the Eurozone and to the Organization for Economic Cooperation and Development (OECD), which are of leading importance for the attraction of investments and for the development of the business climate in our country.
Only for the period January-August 2023, the exchange of goods between the two countries amounted to 1.131 billion USD. e., of which exports to the USA – 697.3 million USD. d. and import of 434.3 sh. e., the ministry recalls. For 2022, trade between the countries reached a peak value of $1.936 billion. e., which is an increase of 45 percent compared to 2021.
Yesterday, at a meeting with the American business delegation, Prime Minister Nikolay Denkov stated that Bulgaria is a gateway to Europe thanks to its geographical position and the border with Turkey, and together with good education, which ensures the training of talents and experts, offers numerous opportunities for investment. BTA reported. Also yesterday, Defense Minister Todor Tagarev introduced the American business representatives to the main modernization projects of the Bulgarian Armed Forces. The business delegation was also received by the Minister of Innovation and Growth, Milena Stoycheva, who presented the department’s priorities for promoting scientific and development activities in the field of high technologies, artificial intelligence, the automotive sector, healthcare, culture and creative industries, microelectronics and mechatronics and the sector “Cosmos”.