The Minister of Economy and Industry and the Minister of Trade of Turkey, Ömer Bolat, opened a Bulgarian-Turkish business forum in our country
Turkey is one of the leading and key foreign trade partners of Bulgaria. The two countries have very good neighbourly and partnership relations. Evidence of this is the data for 2024, according to which bilateral trade reaches a record value of 7.7 billion euro, with an increase of 15.6% compared to 2023. This was stated by the Minister of Economy and Industry and Industry, Peter Dilov, who, together with the Minister of Trade of the Republic of Turkey, Ömer Bolat, opened a Bulgarian-Turkish business forum in Sofia with the participation of over 120 representatives of businesses from the two countries.
Dilov and Bolat expressed confidence that bilateral trade could reach 10 billion euro within two years.
Minister Dilov pointed out that for 2024, our exports to Turkey amount to 6.7% of Bulgaria’s total exports, and this makes our southern neighbour one of the leading markets for exports of Bulgarian goods.
The Minister of Economy and Industry emphasised that these data confirm the significant potential for growth that exists in the trade cooperation between Bulgaria and Turkey. “However, I am confident that there is much more we can do to deepen bilateral economic relations, as well as to build new partnerships between companies from the two countries,” he added.
Peter Dilov noted that in addition to the very good trade relations we have, our country is also an attractive investment destination for Turkish businesses. According to him, many Turkish companies have already chosen Bulgaria as a preferred place to do business and share positive experiences, and in some Bulgarian regions they are also among the largest employers in our country. “Turkish companies’ investments in Bulgaria are in all sectors of the economy,” he added.
The Minister of Trade of Turkey emphasised that the two countries have very good economic relations. According to him, Bulgaria is the gateway for Turkish businesses to Europe. Bolat pointed out that Turkish investments in Bulgaria are over 2.6 billion euro, and more than 2,500 Turkish companies operate in our country.
Minister Dilov, for his part, emphasised that Bulgaria is a very good destination for investment and that Turkish businesses could invest directly in the industrial parks in the country. He assured Turkish companies that each of them could count on institutional support from the Ministry of Economy and Industry.
The Bulgarian Minister and his Turkish counterpart, who is on an official visit to our country, also held a bilateral meeting, at which they discussed the positive development of economic relations and noted that there is a potential for even deeper cooperation in various fields.
They highlighted information and communication technologies, transport and logistics, machine building, electronics and electrical engineering, the automotive industry, the textile and knitwear industry, the chemical industry, the food industry, agriculture, etc. as promising directions and sectors with potential for increasing trade, investment, inter-company cooperation, as well as the implementation of joint projects.
According to Dilov, the policy of the Bulgarian government is aimed at improving the conditions for business by reducing the administrative burden and regulations, as well as maintaining financial stability.
“We are working to restore confidence in Bulgaria as a reliable partner and location for investments. We will stimulate investments in high-tech production, as well as in the creation of new products and services, to build a competitive, resource-efficient, low-carbon industry. I believe that these sectors would be of great interest to Turkish businesses,” the Minister of Economy and Industry noted.