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Belgium

Commercial and Economic Section of the Embassy of the Republic of Bulgaria in Brussels, Belgium, with accreditation for Luxembourg

Bozhidar Patinov

Minister Plenipotentiary
Head of Trade and Economic Office
Embassy of the Republic of Bulgaria in Belgium
Address: Avenue Moscicki, 1180 Bruxelles
GSM: 00 32 471 36 32 65
Phone/Fax: 0032 2 280 34 63
e-mail: b.patinov@mi.government.bg

Contacts in the Ministry of Economy and Industry

Vessela Bayraktarova
Head of Europe Department
Foreign Economic Cooperation Directorate
tel.: +359 2 9407886
v.bairaktarova@mi.government.bg
Ketya Manoilova
State expert, Europe department
Foreign economic cooperation directorate
tel.: + 359 2 940 7823
k.manoilova@mi.government.bg

Еconomic relations between Bulgaria and Belgium

  1. Trade turnover (mln. euro)

In 2022, exports to Belgium amounted to 1.078 billion euros, a -4.7% decrease compared to 2021, and imports from Belgium were worth 939.2 million euros (24.0% growth, compared to 2021). The turnover of goods is 2.017 billion euros and shows a growth of 6.8% compared to 2021. The balance is positive and amounts to 138.6 million euros.

Year

Total turnover

Growth, %

Export

Growth, %

Import

Growth, %

Balance

2011

1396.8

46.78

999.3

70.15

397.5

12.15

601.8

2012

1210.9

-13.3

765.9

-23.4

445.8

12.0

319.3

2013

1121.7

-26.9

642.7

-16.1

479

-37.7

163.7

2014

1441.5

28.5

903.4

40.6

538.1

12.3

365.3

2015

1460.9

1.3

853.7

-5.5

607.2

12.8

246.5

2016

1 254.1

-14.2

646.5

-24.3

607.6

0.1

38.9

2017

1 760.5

39.9

1 122.4

73.6

638.2

5.0

484.2

2018

1 620.2

-8.0

982.3

-12.5

637.95

0

344.3

2019

1493.2

-7.9

850.9

-13.4

642.3

0.6

208.7

2020

1548.4

3.7

963.7

13.3

584.6

-9.0

379.1

2021

1128.9

16.0

1128.9

16.0

757.3

29.5

371.6

2022

2017.1

6.8

1077.8

-4.7

939.2

24.0

138.6

2022 1-6

930.8

429.5

501.3

-71.8

2023 1-6

1171.6

25.9

597.2

39.0

574.3

14.6

22.9

Source: Ministry of Economy and Industry

  1. Belgian Investments in Bulgaria

By the end of the first half of 2023, the total value of Belgian investments in Bulgaria amounts to EUR 3.55 billion.

Kingdom of Belgium is one of the leading investors in Bulgaria. Belgian companies in Bulgaria have long-term interests and a development strategy, create real jobs, transfer experience, train staff, expand their investments and production and are an example of sustainable development.

Source: Bulgarian National Bank

  1. Legal framework
  • The contractual and legal basis between the two countries is well developed and is a prerequisite for the active development of bilateral trade relations:
  • The contractual and legal basis between the two countries is well developed and is a prerequisite for the active development of bilateral trade relations:
  • 1981 – Agreement on the expansion of economic, industrial and technical cooperation between small and medium-sized enterprises in both countries;
  • 1988 – Agreement for the Avoidance of Double Taxation on Income and on Property, in force since 1991;
  • 1988 – Agreement between the Republic of Bulgaria and BLIS for the protection and mutual promotion of investments, in force since 1994; (denounced with the ratification by both parties of the Multilateral Termination Agreement dated May 5, 2020)
  • Agreement on cooperation between the governments of the Republic of Bulgaria and the French Community and Wallonia – signed on 8.10.1998 in Brussels, in force since June 2000;
  • Cooperation Agreement between the Government of the Republic of Bulgaria and the Flemish Community of the Kingdom of Belgium – 2002.

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