Discussion of current topics concerning the trade and economic cooperation between Bulgaria and Turkey

An online meeting "How to intensify trade and economic relations between Bulgaria and Turkey after the COVID-19 pandemic" was held, organized by the Bulgarian Chamber of Commerce and Industry in cooperation of the Union of Chambers and Commodity Exchanges of Turkey /TOBB/.

Tsvetan Simeonov, President of the Bulgarian Chamber of Commerce and Industry, opened the meeting thanking his TOBB colleagues and the diplomatic missions in Sofia and Ankara for the partnership and fruitful cooperation. Simeonov said that such a meeting was much needed, albeit in an online environment, in order to intensify the trade and economic relations between Bulgaria and Turkey in the conditions of the COVID-19 pandemic. He emphasized that the online event was part of BCCI’s initiatives for development of the regional cooperation as a rotating chair of the Association of Balkan Chambers for 2021.

Rifat Hisarciklioglu, President of TOBB, said that due to the pandemic the organizations have stopped physical contacts, but holding such online events will give a new impetus to the bilateral cooperation. Mr. Hisarciklioglu focused on trade turnover between Bulgaria and Turkey which increased in the first nine months of 2021, which is a clear sign of the good partnership between both countries.

H.E. Angel Cholakov, Bulgaria's Ambassador to Turkey, noted that there is great potential for cooperation between the two countries and actions are needed to utilize it. Ambassador Cholakov called on businesses to turn to the diplomatic missions of the two countries for assistance, because they work hard to attract foreign investment and provide assistance to companies.

H.E. Aylin Sekizkok, Ambassador of Turkey to Bulgaria, assured that Bulgaria as a member of the EU is a reliable and desirable trading partner. She also pointed out the increase in bilateral trade over the past two years as a sign that despite the pandemic, businesses are beginning to intensify their relations. She informed that the Kapikule border checkpoint is a major transport artery and described as good news the forthcoming construction of two new corridors for the passage of TIR trucks.

Svetoslav Kirkov, Head of Bulgaria’s Commercial and Economic Section in Ankara, emphasized the need to digitalize business processes in order to address the effects of the COVID-19 crisis and pointed out the potential of industrial parks and the conditions they offer for business.

Sinem Tastan, Commercial Counselor at the Turkish Embassy in Sofia, gave a brief overview of bilateral trade, Turkey’s place in Bulgaria’s exports and imports, and the presence of Turkish companies on the Bulgarian market. The Commercial Counselor also commented on the importance of transport links between the two countries.

The investment climate in both countries was also presented by representatives of the Investment Agencies in Bulgaria and Turkey, with an emphasis on the key sectors of cooperation: automotive industry, machine building, agriculture, etc. More information HERE.

Fikret Ince, Chairman of the Supervisory Board of Alcomet AD and Chairman of the Bulgarian – Turkish Chamber of Commerce and Industry, presented his experience on the Bulgarian market. He emphasized the advantages of Bulgaria as an investment destination, namely the availability of financial sources and international banks, the good tax system, the opportunity to benefit from European funds and sources of financing. Ince also shared information about Alcomet's activities, the impact of the pandemic on the company's activities and its future plans.

The participants in the meeting had the opportunity to exchange contacts and business offers. In the ensuing discussion, questions were asked about the impact of the political situation and the lack of government in Bulgaria on investment in the country, the vaccination campaign in the countries and the impact on staff, as well as the waiting time at border crossing checkpoints.