The opportunities for expanding bilateral economic cooperation were discussed by the Deputy Minister of Economy and Industry Nikolay Pavlov and the Ambassador of Mongolia, H.E. Mrs. Lhagvasuren Sayanaa.
“We believe that the level of trade and economic cooperation does not correspond to the potential of the two countries and to the good political relations,” Deputy Minister Pavlov said. According to preliminary data of the customs statistics, in the first five months of 2024, Bulgarian exports to Mongolia amounted to USD 1.7 million, which is 6.6% less compared to the same period last year. Trade between the two countries for 2023 is USD 3.6 million, formed entirely by Bulgarian exports.
According to the Deputy Minister, important prerequisites for the growth of Bulgarian exports are the liberalization of the foreign trade regime in Mongolia and the opportunities for Bulgarian companies to offer competitive and attractive goods on the Mongolian market.
Deputy Minister Pavlov highlighted the role of the Joint Bulgarian-Mongolian Commission for Economic, Trade and Scientific-Technical Cooperation, co-chaired by the Bulgarian Minister of Economy and Industry, as an important mechanism for the development of bilateral relations, an opportunity to discuss all aspects of the relationship and to identify concrete measures to boost cooperation in the trade and economic field.
As a good example for the development of bilateral trade and economic relations he pointed to the license agreement signed in May 2023 between El Bi Bulgaricum EAD and Mongolian Apu Dairy Mongolia for the production of yogurt in Mongolia.
Deputy Minister Pavlov pointed out that Bulgaria will continue to support the deepening of relations between the EU and Mongolia.