Over USD 1 billion in Bulgarian exports to the United States in the first ten months of 2024
The United States is one of Bulgaria’s leading foreign trade partners, and we are working actively to develop bilateral trade and economic relations, said Minister of Economy and Industry Peter Dilov at the opening of the “Explore U.S.” conference, organised by the American Chamber of Commerce in Bulgaria and the Executive Agency for Small and Medium-Sized Enterprises, with support from the US Embassy in Sofia.
Minister Dilov noted that trade between the two countries has been growing in recent years, and the American market ranks among the main export destinations for Bulgarian high-tech products.
The Economy Minister said that between January and October of 2024, Bulgaria’s trade with the United States amounted to USD 1.4 billion, with Bulgaria showing a positive trade balance during that period. He pointed out that Bulgarian exports exceeded USD 1 billion for those ten months, according to statistics.
He added that, given the scale of the American economy, Bulgaria and the US can do much more to stimulate joint activities and bilateral trade, which would boost the further expansion of bilateral economic ties.
Minister Dilov identified priority areas in this cooperation as trade, energy, high-tech manufacturing, digitalisation, connectivity and clean technologies.
He said Bulgarian companies produce high-tech products in electronics, cybersecurity, optical systems and ammunition, and have the potential to join joint projects, research initiatives and manufacturing processes.
The Economy Minister expressed confidence that the appointment of an economic adviser to the Trade and Economic Affairs Office at the Consulate General of the Republic of Bulgaria in New York in early February this year will contribute to the development of bilateral cooperation between the US and Bulgaria.
“The Bulgarian government is actively working to create a favourable business environment that encourages bilateral cooperation. Our priorities include restoring confidence in Bulgaria as a reliable economic partner and a promising investment and business destination. We want to support businesses by providing access to financing, fostering public-private partnerships and helping Bulgarian companies integrate into international supply chains,” the Economy Minister said.
Dilov added that successful collaboration with the US Embassy and the American Chamber of Commerce in Bulgaria will continue in the future so that the opportunities for deepening cooperation between the two countries can be maximised.
Deputy Prime Minister and Minister of Innovations and Growth Tomislav Donchev, Executive Director of the Executive Agency for Small and Medium-Sized Enterprises Boyko Takov and representatives of the business communities of both countries also attended the forum.