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.