Bulgaria-Romania Trade Turnover Exceeds EUR 3B for 3 Consecutive Years
Trade turnover between Bulgaria and Romania has exceeded EUR 3 B for 3 years in a row, according to the director of the Commercial Section of the Bulgarian Embassy in Bucharest.
Bronislav Denev, as cited by the Focus news agency, expressed hopes that the new joint projects, the export strategies of the two countries and the activities of Bulgarian and Romanian companies would pave the way for a substantial growth in bilateral trade and economic relations in 2014.
"According to the National Trade Register Office, a total of 1797 joint ventures with Bulgarian participation and 100% Bulgarian companies with 86.2 million of invested capital were registered in Romania by December 31, 2013. Bulgaria ranks 30th among foreign investors in Romania, accounting for 0.24% of the total amount of foreign investments in Romania. According to additional information of Bulgaria's National Statistical Institute (NSI), the number of Bulgarian companies exporting goods to Romania was 1722 in 2013" he explained.
He recommended a detailed analysis of the data, stressing that it would enable the authorities to draft a clear short-term or long-term program for the development of Bulgarian export on a global scale.
He suggested that the good partnership between Bulgarian and Romanian companies over the past few years, as well as analyses showing the situation on the markets in the two countries and the needs of the respective markets, had yielded concrete results, namely high trade turnover rates in crisis years, such as a rate of EUR 1.7 B in 2009, a rate of around EUR 2.8 B in 2010, a rate of around EUR 3.5 B in 2011, a rate of around 3.3 B in 2012 and a rate of around EUR 3.45 B in 2013.
He claimed that the achievement of three consecutive years of trade turnover rates of over EUR 3 B spoke well of the efforts of companies, diplomatic services in charge of trade and economic affairs, and other institutions, both Bulgarian and Romanian, which had contributed to the favorable statistics.
- » Bulgaria Fin Min Expects 0.7% Budget Surplus as of End-August
- » Bulgaria Reports 0.9% Budget Surplus as of End-July
- » FDI in Bulgaria’s Non-Financial Sector Drops by 5.9% in 2014
- » Bulgaria 'Offers Azerbaijan Energy Cooperation Package'
- » Mining Industry Accounts for 5% of Bulgaria’s GDP – Energy Minister
- » Bulgaria’s State-Owned Railway Carrier Sees Its Market Share Shrink to 5.1%