Minister Petko Nikolov: The Offices for Trade and Economic Affairs must work as a priority to promote Bulgarian exports and attract foreign investments

"The activity of the Offices for Trade and Economic Affairs (STIV) should be directed as a matter of priority to the promotion of Bulgarian exports and to the attraction of foreign investments, which will contribute to the effective restructuring of the economy, the sustainable development of Bulgarian business and the increase of the standard of living and the quality of life in our country". This was said by the Minister of Economy and Industry, Dr. Petko Nikolov, at a videoconference meeting with the economic advisers in the Trade and Economic Affairs Offices (STIV) of Bulgaria all over the world.

During the online meeting, the government's economic priorities, ways to improve the work of trade representatives abroad, as well as the results achieved by our country in foreign economic terms were discussed.

Minister Nikolov emphasized the activities of the Offices for Trade and Economic Affairs on the identification of new market opportunities, the creation of new connections and the assistance of Bulgarian companies in their entry into foreign markets and the expansion of their presence in traditional ones.

Minister Petko Nikolov noted that a new proactive approach should be sought in order to revive interest in exporting production and services to Bulgaria, especially in high-tech and innovative sectors. "In view of the challenges facing the major European economies, the opening of new markets for Bulgarian business, outside the EU, will bring us many benefits," said Dr. Petko Nikolov. At the video conference call with the trade attachés, he drew attention to the need to make maximum efforts to promote the country's opportunities, to expand contacts and to unlock the unrealized potential of many near and far destinations.

As a leading goal of the Ministry of Economy and Industry, he outlined the transformation of the STIV, which is part of the department, into a real factor for generating proposals and possible solutions in implementing the priorities of the foreign economic, investment and trade policies.

Minister Petko Nikolov also drew attention to the need to speed up the processes of accepting our country into Schengen and for its accession to the OECD, which will give a significant stimulus and boost to the Bulgarian economy. "Any postponement of our full acceptance into the Schengen area will cause greater lost benefits, both for the Bulgarian and Romanian economies, as well as for the economies in the region," Minister Nikolov said. He pointed to the data of various reports and studies, according to which the total effect of Bulgaria's full accession to the Schengen area is estimated at over 1 billion BGN per year.

Dr. Petko Nikolov emphasized the importance of the work of the economic advisors in STIV abroad. "It is extremely important to activate the efforts to establish our country as a recognizable, stable and reliable investment and trade partner, as well as to expand the opportunities for Bulgarian enterprises abroad", emphasized the Minister of Economy.

During the online meeting, good practices and experience were shared for Bulgaria's entry into innovative and high-tech markets and supply chains. The possibilities and tools for positive positioning of our country by presenting its advantages were discussed. In this regard, a decision was made for a proactive proactive approach towards the participation of our country in international exhibitions and fairs through national stands and with the active participation of Bulgarian business.

In conclusion, he thanked STIV for their contribution to the creation and maintenance of stable economic relations, as well as for the attraction of foreign investments in Bulgaria.

The online meeting was attended by all the economic advisors in the Offices for Trade and Economic Affairs (STIV) of Bulgaria all over the world, Deputy Minister Nikolay Pavlov and representatives of the Economic Department.