Any company can now request an online consultation with the Bulgarian Export Insurance Agency (BAEZ). An expert from the institution will discuss the individual needs of companies and suggest products to help them grow and enter new markets. This was announced by the Minister of Economy and Industry Nikola Stoyanov at the opening of an event, part of the company’s “Corporate Meeting with Business” initiative. According to him, BAEZ is developing an interactive module through which the booking of such consultations will be done entirely online. This is another tool developed to facilitate and support businesses in the process of positioning themselves in foreign markets.
“We are in constant contact with the Bulgarian Export Insurance Agency to create more opportunities for Bulgarian companies to go out and position themselves in new markets,” Minister Stoyanov stressed. He added that it is very important for companies to have direct and immediate contact with the Agency’s experts and to receive support in every step of planning and implementing their projects in foreign markets.
“As soon as possible we are launching a new service in support of Bulgarian exports – issuance of performance guarantees on contracts with EU beneficiaries for companies that export goods or services from Bulgaria,” the Economy Minister further said. This is yet another instrument to reduce the financial pressure on Bulgarian companies operating on foreign markets and to make them more competitive.
Data presented at the event showed that as at the end of September 2022, the Export Insurance Agency is reporting premium income growth of over 13% compared to 2021. Reported in the sector of approved credit limits under commercial and political risk export insurance exceeds BGN 852 million.
The event was organized by BAEZ, Bulgarian Development Bank and Bulgarian Small and Medium Enterprises Promotion Agency, and its opening was attended by Galabin Galabov – Chairman of BAEZ, Veselin Rashin – Deputy Chairman of BAEZ and Tsanko Arabadzhiev – Executive Director of BDB. Deputy Minister Yanko Topalov opened the Annual Conference of the woodworking and furniture industries.