Many German companies have exported part of their production in Bulgaria
For 2016, our exports to Germany amounted to € 3.214 billion, which is an increase of over 11%. This was announced during a meeting between the Deputy Minister of Economy Alexander Manolev and the Chief manager of the German-Bulgarian Chamber of Industry and Commerce Dr. Mitko Vassilev.
“In recent years there has been a steady interest from the German business to Bulgaria as well as a growth of our exports to Germany. We have to use these prerequisites to attract bigger investments in our country, “Manolev pointed out.
Dr. Mitko Vassilev added that a number of German companies have exported part of their production in Bulgaria and this also contributes to the sustainable growth of exports. This also reflects the national economy, because these companies start to work with Bulgarian suppliers and subcontractors.
Manolev informed that a third economic adviser in Germany is about to be send with the main task of attracting more German investments. At present, Bulgarian country has two commercial and economic representatives, which are located in Berlin and Munich. There is still no representative in the vacancy in Frankfurt am Main, but it is currently being analyzed whether a new expert will be sent there or in one of the other large federal provinces with the main task of activating contacts at a regional level, it became clear during the meeting.
A number of German companies have discovered the advantages of our country and we need to build up these positions at both business and political levels, was pointed out at the meeting.
According to data from the Bulgarian National Bank (BNB) for the last 10 years, Germany occupies 5th place in foreign direct investments with a total amount of over EUR 2.959 billion. “Building up these results is a top priority and we will count on the partnership of the German-Bulgarian Chamber of Industry and Commerce, which has proved its effectiveness over the years,” the Deputy Minister said.
Dr. Vassilev suggested organizing a visit to Free State of Bavaria in the autumn of this year as a first step in the realization of a reciprocal visit from Bavarian side.