Deputy Minister Pavlov: Turkey is a reliable partner of Bulgaria in trade and economic relations

Bulgaria is an excellent destination for investments, especially in sectors with high added value such as high-tech production and low-carbon industry. This was stated by Deputy Minister of Economy and Industry Nikolay Pavlov during the Bulgarian-Turkish business forum in Shumen, organized by the Bulgarian-Turkish Chamber of Commerce and Industry.

Pavlov emphasized that the government encourages innovation, the creation of new products and services and the development of a competitive economy.

"We will stimulate investments in sustainable technologies and resource-efficient production, which is of key importance for increasing the competitiveness of the Bulgarian economy," added Pavlov. He expressed confidence that Turkish companies can take advantage of these opportunities and find new areas for development in Bulgaria.

“It is a great pleasure for me to attend the Bulgarian-Turkish business forum, which is another step towards strengthening economic ties between the two countries,” said Pavlov, emphasizing the significant growth in bilateral trade, which in 2024 will reach a record 7.7 billion euros – 15% more than the previous year. Bulgarian exports to Turkey account for 6.7% of the country’s total exports, which strengthens Turkey’s position as one of the leading markets for Bulgarian goods, he explained.

“Bulgaria provides attractive conditions for Turkish companies, which can take advantage of the ready-made land in industrial parks,” Pavlov pointed out. He also emphasized the government’s measures to reduce the administrative and financial burden on businesses and stimulate investments.

In conclusion, Pavlov expressed confidence that the current business forum will contribute to the establishment of new partnerships and will outline the opportunities for overcoming the economic challenges facing the two countries.

The forum was also attended by Deputy Minister of Innovation and Growth Krasimir Yakimov, the Mayor of Shumen Municipality Prof. Hristo Hristov, as well as business representatives from both countries.