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The United Kingdom of Great Britain and Northern Ireland

Commercial and Economic Section of the Embassy of the Republic of Bulgaria in London, UК.
Krassimir Kiriakov
Head of Commercial and Economic Section
Embassy of the Republic of Bulgaria
186-188, Queen’s Gate,London SW7 5HL
Tel: +44 207 5814903;
fax: +44 207 589 4875
e-mail: k.kiriakov@mi.government.bg;
Maria Angelieva
186-188 Queen`s Gate, London SW7 5 HL, Great Britain
тел.: +4420 7589 4875; +4420 7584 9400
e-mail: m.angelieva@mi.government.bg
https://www.facebook.com/BGEconOfficeUK
https://twitter.com/BGEconOfficeGB
https://www.linkedin.com/in/%D1%81%D1%82%D0%B8%D0%B2-%D0%B2%D0%B5%D0%BB%D0%B8%D0%BA%D0%BE%D0%B1%D1%80%D0%B8%D1%82%D0%B0%D0%BD%D0%B8%D1%8F-b919b813a
Contacts in the Ministry of Еconomy and Industry
Vessela Bayraktarova
Head of Europe Department
Foreign Economic Cooperation Directorate
Ministry of Economy
tel.: +359 2 9407886
v.bairaktarova@mi.government.bg
Ketya Manoilova
State expert, Europe department
Foreign economic cooperation directorate
Ministry of Economy
tel.: + 359 2 940 7823
k.manoilova@mi.government.bg

Economic relations between Bulgaria and UK

    1. Trade turnover (mln. euro)

    Year

    Export

    Growth %

    Import

    Growth %

    Balance

    Total turnover

    Growth %

    2011

    370.4

    22.3

    364.5

    20.2

    5.9

    734.9

    21.2

    2012

    398

    7.5

    365.2

    0.2

    32.8

    763.2

    3.9

    2013

    469.3

    17.9

    382.2

    4.6

    87.1

    851.5

    11.5

    2014

    488.99

    4.2

    444.2

    16.3

    45.1

    933.2

    9.6

    2015

    586.2

    19.9

    481.8

    8.5

    80.2

    1068

    14.4

    2016

    591.1

    0.8

    600.3

    24.6

    -9.2

    1 191.4

    11.6

    2017

    650.7

    10.1

    475.6

    -20.8

    174.9

    1 126.3

    -5.5

    2018

    696.97

    7.1

    492.2

    3.5

    204.7

    1 189.2

    5.6

    2019

    699.7

    0.4

    460.4

    -6.5

    239.4

    1 160.1

    -2.4

    2020

    666.1

    -4.8

    389.9

    -15.3

    276.2

    1055.96

    -9.0

    2021

    624.3

    -6.3

    305.5

    -21.6

    318.8

    929.9

    -11.9

    2022

    723.6

    15.3

    431.9

    41.4

    291.7

    1155.5

    23.8

    For the first 6 months of 2023, exports to Great Britain amounted to EUR 332.97 million, imports to EUR 194.6 million and trade to EUR 527.5 million. A drop in exports by -12.9%, a growth in imports by 9.0% and a drop in trade turnover by -5.9% were registered for the period.

    Source: Ministry of Economy and Industry

    1. British investments in Bulgaria

    At the end of June 2023, the total value of British investments amounted to €2.332 billion, which ranks the United Kingdom in 10th place after the Netherlands, Austria, Germany, Switzerland, Greece, Italy, Luxembourg, Cyprus and Belgium.

    1. Legal basis
    • Agreement between the Republic of Bulgaria and the United Kingdom of Great Britain and Northern Ireland for the avoidance of double taxation and the prevention of tax evasion of income and gains from the transfer of property (CITPA). Signed on 26.03.2015. Promulgated in SG No. 10 of 05.02.2016. The Agreement was ratified by a law adopted by the 43rd National Assembly on October 8, 2015 (promulgated SG No. 81 of 2015) and entered into force on December 15, 2015.
    • Agreement for mutual protection and promotion of investments, signed on 11.12.1995 in London.

    On 05.05.2020, 23 Member States, including Bulgaria, signed an Agreement on Termination of Bilateral Investment Treaties between EU Member States.

    Bulgaria is committed to the bilateral process of termination of the investment agreement with the United Kingdom.

    In February 2021, the British ambassador in Sofia, Rob Dixon, announced the readiness of the United Kingdom to positively consider Bulgaria’s request to terminate the BIT.

    The process is led by the Bulgarian Ministry of Finance as the lead institution, in cooperation with the Bulgarian Ministry of Foreign Affairs.

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