The Ruse Chamber of Commerce and Industry together with the Stara Zagora Chamber of Commerce and Industry and the Association of European Chambers of Commerce (EUROPALLATI) held today (March 25, 2021) a webinar on "Trade and Investment Relations Bulgaria - Turkey".
The event was part of the Turkey-EU Business Dialogue (TEBD) project, with the main objective of strengthening the interaction between Turkish Chambers of Commerce and Industry and their partners in the EU to promote cooperation between European and Turkish business representatives and create new opportunities for integration.
The online seminar was held with great interest. More than 50 participants took part, including business representatives from Ruse, Plovdiv, Stara Zagora, Yambol, Burgas, Dobrich, Pleven and officials from Turkey and Bulgaria.
In the official part of the event, Mr. Mehmet Ali Erdem - Commercial Attaché to the Consulate General of the Republic of Turkey in Plovdiv and Mr. Svetoslav Kirkov - Economic Counselor, Embassy of the Republic of Bulgaria in Ankara, Turkey presented current economic data and projects implemented in the bilateral commercial relationship. Despite the difficult situation caused by the pandemic and the contraction of a large part of the economic sectors worldwide, Turkey, as a neighboring country of Bulgaria with a large-scale economy, remains one of the main partners in our foreign trade. Regardless of the drop in trade between the two countries by 1.3% in 2020, its amount amounts to over BGN 4 billion according to NSI data. The main share of Turkish imports to Bulgaria are: electrical machines and equipment, machine parts, iron, steel, copper, plastic products, motor vehicles, cotton, knitwear, paper and cardboard products. Bulgaria mainly exports to the Turkish market steel products, copper products and ores, zinc, chemical products, sunflower seeds, plastic and wooden products, mineral and petroleum oils, cotton. According to data from the Ministry of Economy, Turkish investments in Bulgaria are close to 1 billion euros, and in the first half of 2019 alone, Turkish companies have invested 23 million euros in Bulgaria.
Against the backdrop of dynamic trade relations with our southern neighbor, there are also many challenges faced by counterparties on both sides. In the second part of the webinar, in front of the officials, various problematic issues were raised and discussed, related to the possibilities for relief in carrying out business trips by Turkish citizens, easing the workload at the border points, etc. Future plans for the development of Bulgarian-Turkish trade and economic relations, current and future investment projects were also commented on.
Rousse Chamber of Commerce and Industry plans to hold more similar events, which will provide an opportunity for new bilateral partnerships and business initiatives.