News

The Minister of Economy and Industry, Dr. Petko Nikolov, met with the new Ambassador of Turkmenistan to Bulgaria, H.E. Mr. Esen Aydogdiev. They talked about ways to strengthen economic ties between the two nations. During the meeting, it was observed that bilateral trade has significantly increased this year. From January to July 2024, trade reached […]

Following the commitments made by the Minister of Economy and Industry, Dr. Petko Nikolov, to improve working conditions and compensation for employees at LB Bulgaricum, the company’s management and representatives from all labor unions have signed a new Collective Bargaining Agreement for the next two years. This agreement commits both parties to work together on […]

Our trade with Kazakhstan in 2023 increased by nearly 18% Our trade with Kazakhstan in 2023 grew by nearly 18% and reached USD 103.5 million. This became clear during a meeting between the Minister of Economy and Industry Dr. Petko Nikolov and the Ambassador of the Republic of Kazakhstan to Bulgaria H.E. Viktor Temirbayev. They […]

With the entry into force in November 2023 of the Law on Compensation of Consumers for Transportation Costs, persons producing petroleum products from crude oil originating in or exported from Russia are obliged to make monthly contributions to compensate consumers for transportation costs. The amount of the monthly contribution referred to in Article 1 of […]

In the first five months of this year alone, trade between the countries amounted to nearly USD 1.5 billion. Trade relations between Bulgaria and the People’s Republic of China are developing positively. Trade between the two countries reached nearly USD 4 billion in 2023, with Bulgarian exports to China amounting to over USD 1.1 billion […]

Small and medium-sized enterprises (SMEs), as the main engine of any economy, are crucial to local economies. Creating the conditions for business and the successful development of a local SME ecosystem would help overcome regional inequalities and contribute to the demographic revitalisation of our country. This was stated by the Deputy Minister of Economy and […]

Amendments provide better protection of consumers’ collective interests The Ministry of Economy and Industry has drafted a Bill to amend and supplement the Consumer Protection Act, which was approved by the Government today. The document provides for the measures to implement Regulation (EU) 2023/988, thus achieving compliance with the new European requirements for general product […]

Minister of Economy and Industry Dr. Petko Nikolov held a meeting with the Mayor of Vidin Municipality Dr. Tsvetan Tsenkov. During the talks, the possibilities for the development of the region through attracting investments were discussed, as well as the development of the Vidin Industrial Park, owned by the National Company of Industrial Zones (NCIZ) […]

State-owned enterprise has the best monthly performance in June and July for the last five years We have taken all necessary actions to fulfil our commitments. The management of LB Bulgaricum EAD increased by 10%, retroactive to 1 May, the salaries of the employees in the production base in Vidin. There will be a further […]

It is of key importance to intensify the work abroad to establish our country as a recognizable, stable and reliable trading partner “The activities of the Trade and Economic Affairs Offices (TEAO) should be focused on promoting Bulgarian exports and attracting foreign investment as a priority, which will contribute to the effective restructuring of the […]