Bulgarian Exports to Romania Increase by over 40%
Bulgarian exports to Romania grew by over 40% in the first ten months of last year and exceeded 4 billion euros. This became clear during a meeting between the Minister of Economy and Industry Nikola Stoyanov and the Ambassador of Romania to our country H.E. Brandusa Ioana Predescu.
"Trade for the same period amounted to 7.247 billion euros, exceeding our initial forecasts of 7 billion euros for the entire year 2021," Minister Stoyanov pointed out. Bulgarian companies are already leaders in certain branches of the Romanian market and have a significant share in insurance and even in lending in our northern neighbor. "Bulgarian investments in Romania are many times more than Romanian investments in our country, and this is a trend that I hope to change with joint efforts," added Nikola Stoyanov, quoted by the press center of the Ministry of Economy and Energy.
The two countries agreed on more joint initiatives in 2023 to promote trade and investment between the two nations. It is also planned to hold a Working Group meeting with experts from the two economic ministries in the second half of 2023 for consultations and cooperation to strengthen bilateral economic cooperation.
Bulgaria and Romania can exchange experience in the development of industrial parks and in investment attraction policies, it was commented during the meeting. Her Excellency Brandusa Predescu presented their experience of permanent screening of foreign investments and committed to providing more information.
The reporting of the indicators by the statistical institutes of the two countries was also a topic of conversation. The two institutions are partnering on the basis of a signed memorandum, but a more detailed review of the data is needed, the Romanian side pointed out.
The Deputy Minister of Economy and Industry Dimitar Danchev and the Economic Counselor at the Embassy of Romania in Bulgaria Radu Moldovan participated in today's conversation.
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