Minister Bogdanov: Opening new markets will diversify exports from Bulgaria

Minister Bogdanov: Opening new markets will diversify exports from Bulgaria

Bulgarians living abroad are among the candidates for sales representatives

“The opening of new alternative markets next year will create an opportunity to diversify exports from Bulgaria and not to feel the negative economic aspects we are currently seeing in Western Europe. This was stated by the Minister of State for Economic Affairs and Industry at the Annual Trade and Economic Affairs Services Awards ‘STIV 2023’. In his words, Bulgaria’s exports to key partners, mainly from Central and Western Europe, are slowing down and the leading reason for this is the recession that is observed in some of these countries.

Minister Bogdanov announced that more than 190 applications have been received for the 23 vacant positions for Bulgaria’s trade representatives in 21 countries around the world. “I am happy that our compatriots from abroad are also applying for these positions. The aim is to mobilize the Bulgarian diaspora and certain representatives who want to support Bulgaria’s economic development,” he said.

Minister Bogdanov stressed that despite the recession in Western Europe, the Bulgarian economy continues to grow by around 2% and this positive trend is expected to continue next year. “According to BNB data, for the first nine months of this year foreign direct investment in Bulgaria reached over EUR 3.1 billion ,” he said. The increase is more than EUR 1 billion or nearly 50% more than the same period last year, marking the highest growth in the last 15 years.

Minister Bogdanov addressed the representatives of the trade and economic affairs services with a call for restoring confidence in the institutions in the country. “Our task is to support Bulgarian business so that it can be more successful at home and around the world,” Bogdanov said. In his words, institutions, NGOs and businesses should cooperate to achieve the best possible results.

Minister Bogdanov described Bulgaria’s entry into the Schengen area and the euro area as an ongoing process that aims to rebrand Bulgaria as a place where companies are not looking for cheap labour, but as a place where they can develop innovations and work efficiently.

This year’s award ceremony for the Commercial and Economic Affairs Offices was held virtually. The event is jointly organized by the Ministry of Economy and Industry and the Bulgarian Chamber of Commerce and Industry (BCCI). Minister Bogdanov awarded the winner of the Best Results for 2022. A bronze statuette “HERMES” and a diploma were awarded to the Bulgarian STIV in Austria for merits in the development of trade and economic relations between the two countries, for contribution to the increase of Bulgarian exports abroad, foreign investments and tourists in Bulgaria, as well as for achieving the goals and objectives of the BCCI.