Danube Bridge 2 Increased Bulgaria – Romania Trade Volume
Bulgaria and Romania have reported an increase in trade after the opening of Danube Bridge 2 in mid-June 2013.
Members of Romania's Dolj Chamber of Commerce and Industry described the Vidin–Calafat Bridge as a major benefit for the economic development of the region.
Danube Bridge 2 contributed to an increase in Romanian exports to Bulgaria by 9.5% and to an increase in Bulgarian exports to Romania by 6.1%, according to Romanian media outlets, as cited by the Bulgarian Telegraph Agency (BTA).
Gabriel Toader, General Manager at Dolj Chamber of Commerce and Industry, said that the bridge toll at Danube Bridge 2 was acceptable for the business sector, taking into account that the rate was lower by 1/3 compared to the ferryboat fare.
The Bulgarian-Romanian Chamber of Commerce and Industry (BRCCI) informed that the increase by 9.5% in Romanian exports to Bulgaria in 2013 confirmed the upward trend in Romanian exports which had reached a record level in 2012.
The BRCCI was set up in 2003 to facilitate trade partnership, business contacts and information exchange between Bulgaria and Romania. Its main office is in the Danube city of Ruse.
Romania is one of Bulgaria's major trade partners, ranking fifth after Germany, Italy, Turkey and Greece.
Total trade turnover between Bulgaria and Romania reached EUR 767.09 M and the trade balance amounted to EUR 77.97 M to the benefit of Romania, according to data from Bulgaria's National Statistical Institute from mid-2013.
In 2013, Romania's exports reached a peak of EUR 49.56 B, up by 9.1% from 2012, according to Romanian statistics. Imports in that period amounted to EUR 55.2 B, up by 0.2%.
Romania's exports to EU Member States amounted to EUR 34.5 B and its imports from EU countries stood at EUR 41.86 B. Around 70% of Romanian exports were targeted for EU countries.
Danube Bridge 2 was officially opened on June 14, 2013. During the inauguration ceremony, Bulgarian Prime Minister Plamen Oresharski suggested that the facility could boost the economic development of Bulgaria's northwestern region, the poorest EU region.
- » The Eurozone has Approved Another Financial Tranche for Greece
- » South Korea to Ban Cryptocurrency Traders From Using Anonymous Bank Accounts
- » Syrian Opposition Launches Operation Against Regime
- » Only 34% of Bulgarian Companies Actively Use Social Networks
- » 82% of the Wealth Generated in 2017 has Gone to the Hands of 1% of People
- » IMF: "It's Time to Discuss Bitcoin Globally"