Japan-Bulgaria Business Association will represent the interests of Japanese business in our country

The Japan-Bulgaria Business Association (JBBA) has already been established and operates in Bulgaria with the active support of the Embassy of Japan in Bulgaria. The non-governmental organization aims to support the development of bilateral economic and trade relations between Japan and Bulgaria. The association focuses its efforts on uniting and presenting Japanese business in our country, promoting two-sided trade and investment, popularizing good business practices and developing a good business environment in the country.

In Bulgaria, Japanese companies are convincingly represented in various economic sectors such as automotive, information technology, pharmaceuticals, food, tobacco products, as well as in many other sectors. The strong presence of leading Japanese corporations in our country has created a need for Japanese business in Bulgaria to have a platform for information exchange and sharing of experience, as well as for joint representation before government, non-governmental and business organizations.

The founders of the association are JTI Bulgaria, Astellas Pharma, Takeda Bulgaria, SEGA Black Sea, Zen-noh Foods. Members of the Management Board are Vladislav Mihov - General Manager of JTI Bulgaria and Chairman of the Board, Stamen Bankovski - General Manager of Astellas Pharma for Hungary, Bulgaria and Romania and Deputy Chairman of the Management Board, and Todor Kesimov - General Manager, Takeda Bulgaria .

"The establishment of the Japan-Bulgariа Business Association (JBBA) makes me extremely happy. I am fully convinced that the Association will play an important role in promoting the business of the Japanese companies that are already on the Bulgarian market, as well as in attracting new ones to invest and develop their business in Bulgaria in the future. Supporting the activities of the Japanese companies in the country is one of the most important missions of the Embassy. I truly hope that the partnership with the Japan-Bulgaria Business Association will be the main driving force for creating new opportunities for the development of the economic relations between Japan and Bulgaria." said the Ambassador of Japan in Bulgaria, N.P. Hiroshi Narahira.

The Japan-Bulgaria Business Association has already concluded partnership agreements with two of the biggest universities in Bulgaria - Sofia University "St. Kliment Ohridski ”and UNWE. The agreements aim to strengthen the link between higher education and real business and to provide new opportunities to expand knowledge in the fields of economics, investment and governance.

According to official data for 2020, trade with Japan amounts to 225.2 million USD dollars, an increase of 2.3% over the same period in 2019. Our exports to Japan maintained their levels from the previous year, registering a slight increase of 0.7%. Our imports from Japan also increased by 2.8%. One of the goals of the association is to help the development of these indicators. Part of the activities of the association will be to provide information on the investment climate and the legislative framework, as well as to provide support, together with the Embassy of Japan in Bulgaria, to potential Japanese investors in the country.

"Japanese companies, brands and capitals have their serious place on the market in Bulgaria. The two countries have established long-term relations, many traditions, contacts and various projects in recent decades. We believe that our association, with the active support of the embassy, has a lot of work ahea- to unite Japan-related companies in our country, so that together we can work for more bilateral trade, better business environment, more business to work. for the benefit of both the profits and the people and the society as a whole ", said Vladislav Mihov, Chairman of the Board of Japan-Bulgaria Business Association.

"The main goals and efforts of the association will be aimed at promoting the development of a sustainable business environment for Japanese companies in Bulgaria, fruitful cooperation between them and encouraging and supporting the entry of new investments coming from Japan," said Stamen Bankovski, Deputy Chairman of the Board of Japan-Bulgaria Business Association.

"The association will support and represent the interests of its members in their relations with Japanese and Bulgarian institutions, in order to increase trade and investment activities between Bulgaria and Japan, as well as economic development and exchange between the two countries," added Todor Kesimov.

The newly established association is based on long-established traditions - business relations between Japan and Bulgaria began in 1927 with the exchange of official letters related to merchant ships and the application of the MFN clause. In 1939 the Japanese diplomatic legation was officially opened in Bulgaria. In 1942 Bulgaria opened its diplomatic legation in Japan. With a break of several years, diplomatic relations between the two countries have existed for more than 80 years. In 2019, Japan and Bulgaria celebrated a "Triple Anniversary", namely the 110th anniversary of the established relationship, the 80th anniversary of diplomatic relations and the 60th anniversary of the resumption of diplomatic relations.

More details about JBBA can be found HERE.