Bavaria ranks 37th among Bulgaria’s trading partners
In recent years, economic relations between Bulgaria and Bavaria have developed very dynamically. Bavaria is among the three German federal states with the largest investment presence in Bulgaria and the highest share in bilateral trade. The Deputy Minister of Economy and Industry Nikolai Pavlov said this in his address during the traditional Bavarian evening organized by the German-Bulgarian Chamber of Industry and Commerce (GBITC).
The Ambassador of Germany to Bulgaria, H. E. Irene Plank, State Secretary at the Bavarian State Ministry of Economic Affairs, Tobias Gotthardt, Managing Director of GBCIC, Sonja Miekley, and nearly 100 representatives of Bavarian and Bulgarian companies. and nearly 100 representatives of Bavarian and Bulgarian companies. During the discussions, it was noted that Bavaria is Bulgaria’s 37th largest trading partner.
Deputy Minister Pavlov announced that in 2023 the trade with Bavaria will exceed EUR 2.2 billion and will account for nearly 20% of the total trade turnover between Bulgaria and Germany. In the first six months of this year alone, the positive trend has been maintained and trade reached EUR 1.3 billion.
In his words, nearly 1,000 Bavarian companies with more than 260 representative offices are already developing production and trade activities in Bulgaria. “These include global technology companies, leading car manufacturers, banks, insurance firms, and numerous small and medium-sized businesses from different economic sectors,” he noted.
The Deputy Minister of Economy noted the potential and opportunities for successful collaboration and investment projects in sectors like electronics, mechanical engineering, the automotive industry, pharmaceuticals, ICT, healthcare, and more.
For his part, the Bavarian State Secretary for Economic Affairs, Tobias Gotthardt, pointed out that Bavaria will continue to be a dependable partner for Bulgaria.