Following up on the initiative of the honorary consuls of Bulgaria and the Philippines, as well as the Embassy of the Republic of Bulgaria in Vietnam (which is also accredited to the Philippines), the Bulgarian Chamber of Commerce and Industry (BCCI) and the Philippine Chamber of Commerce and Industry signed a Memorandum of Cooperation. Both parties outlined potential areas and sectors for expanding bilateral business relations.
The Chairman of the Philippine Chamber of Commerce and Industry, Ferdinand Ferrer, noted that the signing of the Memorandum is another important step toward deepening contacts between the two business communities. He shared that Bulgaria is already familiar to him as a country, since Bulgarian companies work with Philippine partners, including in the field of electronics.
The President of BCCI, Tsvetan Simeonov, emphasized that the Philippines represents an interesting partner for Bulgaria, particularly in the field of light industry and the opportunities for recruiting labour. He extended an invitation to his colleague to visit Bulgaria, which could be combined with holding business meetings and presenting traditional Philippine products.
Mr.Simeonov also emphasized Bulgaria’s advantages as a member of the Eurozone and the Schengen area, as well as its stable banking system and favourable business environment.
The Ambassador of the Republic of Bulgaria to Vietnam, who is also accredited to the Philippines, Pavlin Todorov, congratulated the leaderships of both national chambers of commerce and industry. He expressed hope that the signed Memorandum would serve as a foundation for specific initiatives and projects aimed at developing bilateral economic cooperation between Bulgaria and the Philippines.
The Honorary Consul of the Republic of Bulgaria in the Philippines, Rico Ledesma, also greeted the participants and expressed his support for the efforts of both chambers to deepen business contacts and cooperation between the two countries.
During the meeting, the possibility of a visit by representatives of the Philippine Chamber of Commerce and Industry to Bulgaria in the spring of 2027 was discussed. The visit is planned to include business meetings and other initiatives aimed at promoting contacts between Bulgarian and Philippine companies.