For the first eight months of 2024, the trade exchange between Bulgaria and Libya has increased, reaching over USD 337 million.
There is potential for development of trade and economic cooperation between Bulgaria and Libya. The Minister of Economy and Industry Dr. Petko Nikolov said this at the opening of the Bulgarian-Libyan Economic Forum, organized by the Bulgarian Chamber of Commerce and Industry, the Embassy of Libya and the Council of Libyan Chambers of Commerce. The opening was also attended by H. E. Abu Bakr Saeed, the Board Member and President of the Tripoli Chamber of Commerce Anwar Abu Sitta, and the President of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov.
More than 40 Bulgarian and Libyan companies in the field of trade in food industry, pharmaceuticals, medical devices, agricultural machinery, etc. too part in the forum.
“Today’s event is a great chance to showcase the benefits and opportunities that Bulgaria and Libya can provide each other, ranging from quality products and technologies to specialized expertise in various sectors,” Nikolov said.
He added that key areas for cooperation could be agriculture, the food industry, information and communication technologies, tourism, healthcare, machine engineering and chemical industry.
Minister Nikolov pointed out that there is a growing interest in mutually beneficial cooperation, and the ongoing bilateral business forum is proof of this. “The level of trade between Bulgaria and Libya in the first eight months of 2024 amounted to over USD 337 million, marking a significant increase compared to the same period in 2023,” Nikolov said.
The Minister of Economy pointed out that there are bilateral opportunities to develop the existing potential in a number of areas of interest to the Bulgarian economy, such as energy, trade and economic cooperation, supplies of bread wheat, feed and other agricultural products, and opportunities for Bulgarian companies to participate in the reconstruction of Libya.
He said Bulgaria is a country with stable economic growth and competitive business conditions, offering attractive opportunities for Libyan investment and resources.