Minister Karanikolov: The exchange between Bulgaria and the Republic of Korea marks a growth of about 80%

Minister Karanikolov: The exchange between Bulgaria and the Republic of Korea marks a growth of about 80%

“Throughout the first six months of 2018, the bilateral trade between Bulgaria and the Republic of Korea equals values of nearly 135 million USD, reaching a nearly 80% increase compared to the same period of 2017. This value includes 40.5 million USD export from Bulgaria and 94.2 million USD import from Korea.” This was announced by Minister Karanikolov on the occasion of the Republic of Korea’s National Day celebration.

During the event Minister Karanikolov emphasized that the two governments’ mutual efforts are aimed at attracting more Korean investments in priority sectors. “The advantages that Bulgaria has to offer are numerous – political, macroeconomic and financial stability, qualified labor force, lowest operational costs for business in Europe.”, the Minister highlighted.

According to him, the Republic of Korea is a priority trade and economic partner in East Asia. “The dynamic dialogue between the two countries’ leaderships is yet another proof of our political will to develop and strengthen our traditionally good long-lasting relations”, Minister Karanikolov stated. He emphasized that our Asian partners should use Bulgaria’s full potential and advantages as a platform to the immense market of the EU and the region. “Our country is able to play the role of an entry post for Korean goods heading towards the EU, as well as a transit center between the markets of the EU, the Middle East, North Africa, Russia and ex-soviet countries”, he also said.

In conclusion, Minister Karanikolov expressed assurance that the Bulgarian government will continue placing serious accent on developing the economic relations between Bulgaria and the Republic of Korea. “As a member of the EU, Bulgaria is a correct, trustworthy and predictable partner. We actively support and encourage every initiative that serves in interest to the good partnership between the two countries”, the Minister said.