Minister Stoyanov: We expect our bilateral trade with Romania to exceed 7 billion euros in 2022

Minister Stoyanov: We expect our bilateral trade with Romania to exceed 7 billion euros in 2022

We expect our bilateral trade with Romania to exceed €7 billion by the end of the year. This was announced by the Minister of Economy and Industry Nikola Stoyanov at the opening of a Bulgarian-Romanian business forum in Ruse today. More than 100 companies from both countries took part in the forum.

“In 2021, we have achieved an increase in commodity trade of nearly 40%,” Minister Nikola Stoyanov stressed, adding that the upward trend remains for the first 5 months of 2022, approaching 55% for the period.

Bulgarian companies are already leaders in certain sectors of the Romanian market. As an example was mentioned the trade in individual food products – a Bulgarian company is a leader in the sale of pulses and another – in pasta. Bulgarian companies have a significant share in insurance and even in lending in our northern neighbour.

“Bulgarian companies are already competitors at the European level, as evidence of this are public contracts of the Romanian state, which are won by Bulgarian companies,” Nikola Stoyanov stressed and in this regard commented that a Bulgarian construction company is building a new 30-kilometer motorway section in Romania.

“Bulgarian investments in Romania are many times more than Romanian investments in our country and this is a trend that I hope we can change with joint efforts,” Nikola Stoyanov addressed the participants in the forum. He also highlighted some of the joint initiatives – participation of Romanian companies in specialized exhibitions, intensification of activities for the presentation of Bulgarian products on the Romanian market and Romanian products on the Bulgarian market, etc.

Bulgaria and Romania could also cooperate in the field of transport and digital connectivity, including on joint projects with funds allocated by the EU under the national recovery and resilience plans, it was further commented during the forum.

The Bulgarian-Romanian Business Forum was attended by: the Mayor of Ruse Pencho Milkov, Radko Vlaykov – Ambassador of the Republic of Bulgaria to Romania, the Head of the Office for Trade and Economic Affairs of Bulgaria in Romania Ivaylo Marinov and the Commercial Attaché of the Embassy of Romania in Sofia Radu Moldovan.