Minister Bogdanov: There is great potential for economic cooperation between Bulgaria and the USA

Bilateral trade between Bulgaria and the USA has great potential for development. The American market is among the main export destinations for Bulgarian high-tech products. This was stated by the Minister of Economy and Industry Bogdan Bogdanov during a meeting with a trade and investment delegation of 15 leading American companies. The visit is one of the largest in recent years and is organized by the American-Central European Business Association (ACEBA) and the US Department of Commerce.

During the meeting, the possibilities for promoting investments and partnership between the two countries in the sphere of trade, military industry, pharmaceutical sector, finance, energy, infrastructure modernization and others were discussed.

The Minister of Economy introduced the representatives of American companies to the advantages of our country as an investment destination. He highlighted the favorable tax policy, the growing geostrategic importance, as well as Bulgaria's opportunities to become a transport and logistics hub in the region.

Bogdanov emphasized the vision of the Ministry of Economy for the development of industrial zones in our country, through which new investment projects can be attracted. "We will create two new industrial zones in Dobroslavtsi and Stara Zagora, applying the best practices of international institutions such as the World Bank or the European Bank for Reconstruction and Development (EBRD). They will be specialized in specific sectors such as the automotive industry and will have opportunities for the development of research and development activities," emphasized Bogdanov. According to him, an opportunity will be opened for a public-private partnership with international or local investors who are interested in building them in partnership with the state.

Bogdanov assured the representatives of the American delegation that the Bulgarian country is working for a stable and predictable business environment and for the creation of conditions for attracting investments in productions with high added value.

The minister announced that Bulgaria is about to send trade attachés to the USA, who will work to activate bilateral trade relations, which have extremely high potential.

During the meeting, Minister Bogdanov highlighted the three main priorities that the Bulgarian government is working on, related to the acceptance of our country into the Schengen area, its accession to the Eurozone and to the Organization for Economic Cooperation and Development (OECD), which are of leading importance for attracting investments and for the development of the business climate in our country.

Only for the period January-August 2023, the exchange of goods between the two countries amounted to 1.131 billion USD. e., of which exports to the USA – 697.3 million USD. d. and import of 434.3 sh. e.

For 2022 year trade between the countries reached a peak value of USD 1.936 billion. e., which is an increase of 45% compared to 2021.