Deputy Minister Nikolay Pavlov met with a business delegation from Morocco

Deputy Minister Nikolay Pavlov met with a business delegation from Morocco

The development of bilateral economic relations in the public and private sectors and the opportunities for increasing trade and trade relations between the two countries were discussed at a meeting of Deputy Minister Nikolay Pavlov with a business delegation from the Kingdom of Morocco.

‘Morocco is a promising foreign trade partner for Bulgaria, with which we should work together to achieve growth in mutual trade’, Deputy Minister Pavlov said. He expressed confidence that our good relations are a prerequisite for further development of bilateral economic cooperation and intensification of business relations between Bulgaria and Morocco.

Deputy Minister Pavlov said that over the past year the trade and economic relations between Bulgaria and Morocco have been growing, but there is still room for improvement. Trade between the two countries in 2023 amounted to USD 289.5 million and increased by 65% compared to 2022, which is mainly due to the 97.7% increase in Bulgarian exports to Morocco.

He stated the willingness of the Bulgarian side to identify and participate in joint projects within the EU programmes implemented in Morocco. ‘The establishment of joint ventures is one of the forms with the potential to boost investment activity between the two countries. Bulgarian companies can successfully partner Moroccan ones in the construction of large infrastructure projects’, he added.

According to Deputy Minister Pavlov, joint initiatives such as the business forum held jointly with BCCI, seminars, participation in fairs and exhibitions in both countries contribute to increasing and diversifying trade with Morocco.

The Ministry is ready to assist in the development of the activities of the Bulgarian-Moroccan Business Council, whose aim is to stimulate relations between the private sectors in the two countries and intensify bilateral trade and economic cooperation.

The delegation included 12 Moroccan companies that participated in the bilateral Business Forum in Sofia organized by the Chamber of Commerce, Industry and Services of the Rabat-Salé-Kénitra region (CCIS) and the Bulgarian Chamber of Commerce and Industry.