Bulgaria's Exports to Suffer Minor Losses from Russian Sanctions

Business | August 8, 2014, Friday // 15:01| Views: 1217 | Comments: 1
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Bulgaria: Bulgaria's Exports to Suffer Minor Losses from Russian Sanctions Plamen Dimitrov, President of the Confederation of Independent Trade Unions in Bulgaria. Photo by BGNES.

Bulgaria's exports to Russia last year amounted to some BGN 1B, Plamen Dimitrov, President of the Confederation of Independent Trade Unions in Bulgaria, told Nova TV.

So far, the list of imported products that Moscow has banned will affect no more than 2% of Bulgarian exports - mainly of raw fruits and dairy products.

According to Dimitrov, Bulgaria's exports will suffer losses no greater than BGN 18-20M.

Data of the Ministry of Economy and Energy shows that almost one third of Bulgaria's exports to Russia are of pharmaceutical drugs, Dnes.bg informs.

According to Ognyan Donev, President of the Confederation of Employers and Industrialists in Bulgaria, it is unlikely that President Putin would impose an embargo on drugs imports.

On Thursday, Russia banned food imports from the EU, US, Australia, Canada and Norway in response to Western sanctions imposed over Moscow’s support for Ukrainian rebels.

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Tags: Confederation of Employers and Industrialists in Bulgaria, imports, Confederation of Independent Trade Unions in Bulgaria, Russia, banned, exports
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#1
George Zhelyazkov - 8 Aug 2014 // 22:39:21

I have been saying for many years that the growth is in emerging markets. The West is going crazy with this obsession with controlling places. It's Russia today, tomorrow it will be China or Brazil. Whoever doesn't conform to their views is targeted. Even my neighbours in Hamilton put a banner on their front lawn saying Bomb Putin. The world must be going crazy if Canadians now want violence.

Yes IDIOT Mr. Dimitrov, Bulgaria might have small trade with Russia but it is LOSING something that it should not be losing. Our market share with Russia and the Eurasian Union will shrink and we will LOSE valuable emerging markets to trade with.

Believe me when I tell you Bulgarians that China and other emerging markets not allied with the West are watching. An old Chinaman here in Hamilton told me today : "We al watchin' you Eulopeans, and if you play with file, you will get bulned."

Trade with Russia might be BGN 20 million but with China it is BGN 500 million. Who wants to lose the Chinese market? Keep on blindly following the EU and North America Bulgaria and you'll see what will happen.