Deputy Minister of Economy and Industry, Dontcho Barbalov, met with members of the National Council of the Bulgarian Industrial Capital Association (BICA) to discuss opportunities for improving the business environment in Bulgaria, as well as creating conditions to open up new markets for Bulgarian companies.
During the discussion, topics included enhancing the activities of the Trade and Economic Affairs Offices (TEAOs) of the Ministry of Economy and Industry, and reducing the administrative burden on businesses.
Deputy Minister Barbalov emphasised that Bulgaria continues to maintain and strengthen one of its key competitive advantages – a stable and predictable macroeconomic environment. “We are already part of the Schengen area, with free access to the EU single market and facilitated trade. We now have a confirmed date for accession to the eurozone – 1st of January 2026 – which will have a positive impact on the country’s credit rating, foreign trade, and foreign direct investment,” he stated. He also noted that Bulgaria’s accession process to the Organisation for Economic Co-operation and Development (OECD) is in an advanced stage, which will further enhance predictability and compliance with best international standards in the business environment.
The Deputy Minister of Economy highlighted that the Ministry is actively working to reduce administrative burdens by reviewing legislation to establish better rules and streamline procedures.
“We are developing a National Industrial Strategy with a horizon to 2030 – a strategic document aimed at supporting Bulgarian industry, preserving and enhancing its competitiveness. Part of this strategy involves creating an industrial ecosystem by developing industrial parks equipped for modern production and for shortening supply chains,” he said.
At the European level, efforts are underway to sign free trade agreements, which present new opportunities for Bulgarian companies to enter international markets. According to Deputy Minister Barbalov, a mechanism will be introduced to notify businesses when new markets are opened, with the assistance of the TEAOs, to strengthen the export potential of Bulgarian enterprises.
The meeting also addressed ways to improve cooperation between businesses and the TEAOs in order to better utilise their capacity.
It was confirmed that upcoming meetings will be organised at both national and regional levels between TEAOs and business representatives, where updated information on registration regimes and licensing requirements for different countries will be provided to support the international operations of Bulgarian companies.