It is of key importance to intensify the work abroad to establish our country as a recognizable, stable and reliable trading partner
“The activities of the Trade and Economic Affairs Offices (TEAO) should be focused on promoting Bulgarian exports and attracting foreign investment as a priority, which will contribute to the effective restructuring of the economy, the sustainable development of Bulgarian business and the improvement of the standard of living and quality of life in Bulgaria.” This was said by the Minister of Economy and Industry Dr. Petko Nikolov at a videoconference meeting with the economic advisors in the Trade and Economic Affairs Offices (TEAO) of Bulgaria around the world.
During the online meeting, the economic priorities of the government, ways to improve the work of trade representatives abroad, and the results achieved by our country in foreign economic terms were discussed.
Minister Nikolov focused the activities of the Trade and Economic Affairs Offices on identifying new market opportunities, creating new links and helping Bulgarian companies to enter foreign markets and expand their presence in traditional ones.
Minister Petko Nikolov noted that a new proactive approach should be sought in order to renew interest in exporting manufacturing and services in Bulgaria, especially in high-tech and innovative sectors. “In view of the challenges facing the major European economies, opening new markets for Bulgarian business outside the EU will bring us many benefits,” said Dr Petko Nikolov. During the videoconference call with the Commercial Attachés, he drew attention to the need to make every effort to promote the country’s opportunities, expand contacts and unlock the untapped potential of many destinations near and far.
He outlined as a leading objective of the Ministry of Economy and Industry the transformation of the TEAO, which is attached to the Ministry, into a real factor for generating proposals and possible solutions in the implementation of the priorities of foreign economic, investment and trade policies.
Minister Petko Nikolov also drew attention to the need to accelerate the processes of Bulgaria’s accession to Schengen and its accession to the OECD, which will give a significant stimulus and boost to the Bulgarian economy. “Any postponement of our full accession to the Schengen area will cause greater lost benefits for the Bulgarian and Romanian as well as for the economies in the region”, Minister Nikolov said. He pointed to the data of various reports and studies, according to which the total effect of Bulgaria’s full accession to the Schengen area is estimated at over BGN 1 billion per year.
Dr. Petko Nikolov stressed the importance of the work of the economic advisors in the STIV abroad. “It is of utmost importance to intensify the efforts to establish our country as a recognizable, stable and reliable investment and trade partner, as well as to expand the opportunities for Bulgarian enterprises abroad,” the Economy Minister said.
The online meeting shared best practices and experiences for Bulgaria’s entry into innovation and high-tech markets and supply chains. Opportunities and tools for positive positioning of our country by presenting its advantages were discussed. In this regard, it was decided to take a proactive approach towards the participation of our country in international exhibitions and fairs through national stands and with the active participation of the Bulgarian business.
In conclusion, he thanked the JTIW for their contribution to the establishment and maintenance of stable economic relations, as well as for attracting foreign investment to Bulgaria.
The online meeting was attended by all the economic advisors in the Trade and Economic Affairs Offices (TEAO) of Bulgaria worldwide, Deputy Minister Nikolay Pavlov and representatives of the Economic Department.