NEWS FROM BCCI
BCCI: Institutions to focus their attention on promoting trade and economic relations with third countries
According to the latest data provided by the National Statistical Institute, in the first six months of the year our exports to third countries have decreased by 12.1% compared to the same period in 2013, amounting to BGN 7.5 billiion. Major trade partners of Bulgaria are Turkey, Singapore, China, the Russian Federation, the Former Yugoslav Republic of Macedonia and Serbia, which form 54.9% of our exports to third countries.
The imports have decreased by 6,0% in the first half of the year, amounting to BGN 9.4 billion (by CIF prices). The volume of imported goods from the Russian Federation, Turkey, China and Ukraine is the largest.
The drop in trade with non-EU countries is a clear signal that a diversification of export destinations is needed as well as search for new markets for the Bulgarian goods.
According to representatives of the business there is untapped potential by the government for the development of trade relations between Bulgaria and the emerging countries of Asia, Middle East and Africa. Imports and exports of our country to third countries have a reserve, which is to be activated by an increased focus on these markets. The state institutions and administration departments who are responsible for the trade and economic relations with these countries should more intensively focus their initiatives on these countries.
According to members of the BCCI, for markets such as the United Arab Emirates, Oman, Saudi Arabia, Qatar, Iran, Iraq, Algeria, Tunisia, Pakistan, Armenia, Turkmenistan and Mongolia the role of the state to promote and support bilateral trade relations is extremely important.
BCCI endeavors to expand contacts with a growing range of business representatives from non-EU countries by organizing business delegations, seminars and business meetings in order to promote trade and economic relations.
For the period 2009-2013, the BCCI has organized 70 delegations and business forums in these countries, more than 30 workshops and more than 500 business meetings with related organizations, representatives of the diplomatic community and private business. Companies were granted over 80 offers for business cooperation with third countries.
NEWS FROM BCCI
BCCI: Institutions to focus their attention on promoting trade and economic relations with third countries
Bulgarian economy will grow if exports increase
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BCCI is preparing the new classification “TOP 100 companies and holdings leading in the Bulgarian economy”
Foreign and Bulgarian institutions, banks, embassies, representation offices of international organizations have declared interest towards the classifications
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BCCI awarded the Ambassador of India to Bulgaria with an honorary diploma
For his contribution to the development of the bilateral trade and economic relations and for his active collaboration with the Chamber
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BCCI organizes the participation of companies in the International Technical Fair
September 29 – October 4, 2014, Plovdiv
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FINANCE
Minister of Finance: The overestimated revenues and the increased expenditures in the first seven months of the year are the main problem of the state finances
We must contain the deficit within 3%, the Minister was firm
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BULGARIAN ECONOMY
Günther Oettinger pledges full support for Bulgaria's energy board
The Commissioner invited Bulgarian experts for talks at the European Commission to find balanced mechanisms and stabilize the Energy sector
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Danube Bridge 3 to cost EUR 200 – 270 M
The exact location of the third bridge over the Danube River is to become clear in 2 months
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Bulgaria ranks second in the production of gold in Europe
Under the production index per capita our country falls into the definition of a “mining country” with an indicator above the global average
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Bulgaria's transport sector turnover increases by 13.4% in Q2 Y/Y
The greatest increase was observed in Warehousing and support activities for transportation - by 24.1%
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INVESTMENT NEWS
BGN 2.5 million will be invested in a new tire plant in Slanotran, Vidin
The owner of the enterprise introduced an innovative technology for processing of raw materials, which was developed by Bulgarian scientists
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Plant in Knezha will create 4900 new jobs
The Investor received a Class A Certificate for Investment
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