The new head of the Office for Trade and Economic Affairs in Moldova met with Tsvetan Simeonov

Nikola Todorov, an expert from the Ministry of Economy and Industry visited the Bulgarian Chamber of Commerce and Industry and talked with the President of BCCI Tsvetan Simeonov about his recent departure to Chisinau, as the head of the Office for Trade and Economic Affairs of our country in the Moldovan capital.

 

Simeonov discussed with the future trade adviser the level of development of bilateral economic relations between Bulgaria and Moldova. Despite the small size and population of both countries, trade is significant. In 2022, bilateral trade between Bulgaria and Moldova will reach USD 330.5 million. e., with a significant growth of 118.3% compared to the same period of the previous year. Our exports to Moldova for the specified period amounted to USD 168.4 million. e., having increased by 109%. Imports from Moldova reached USD 162 million. e., marking a significant growth of 128.8%, compared to the same period of the previous year. This growth is due to realized significant imports of the leading commodity groups for the period - "Sunflower seeds" and "Sunflower, safflower or cottonseed oil" worth 86.3 and 18.6 million USD, respectively. e.

 

Trade with Moldova is based on the Association Agreement between the EU and the Republic of Moldova, which has been fully in force since 2016 and provides for free trade.

 

Todorov explained that there are two active Bulgarian investments in Moldova in the financial and pharmaceutical sectors. He pointed out that using the potential of the large Bulgarian diaspora in Moldova could lead to even deeper economic and investment cooperation.

 

A regular exchange of information was agreed between the BCCI, the Chamber of Commerce and Industry of the Republic of Moldova, a long-standing partner.