Address by the President of the Bulgarian Chamber of Commerce and Industry

Dear members, partners, colleagues and supporters,

The year 2024 will be a year of expectations for accelerating growth and recovery after the Covid epidemic, although a slowdown in growth rates and a longer-lasting than expected negative trend for the economy is noticeable. Despite the efforts, logistical links are also more difficult to restore than anticipated, which is understandable given the presence of severe conflicts close to us. It is enough to mention only Russia's war in Ukraine and Hamas's aggression against Israel. In this new reality, the BCCI had the difficult task of presiding over the Association of Bulgarian Employers' Organizations. Adding the difficulties of forming a regular government, it becomes clear what a challenge it is for us to work for the realization of the priorities of the Association. With the joint efforts of its members, there is an opportunity not only to prevent the deterioration of the economic environment in Bulgaria, but also to ensure, through reasonable and measured reforms, the lasting rule of law and limiting the prerequisites for corruption. Our efforts to prove the country's readiness to join the Eurozone, the Schengen area and the OECD continue.

Obviously, the year 2024 will again be marked by challenges, but also by opportunities for all of us - we have real chances that our most important priorities will be realized. For BCCI, as well as for all open-minded organizations and experts in the field of economics, the steps we listed above will give Bulgaria new and more attractive positions in the race to attract investments from the country and abroad. In general, they will lead to better access to financing, more confidence in the market, more predictability in the development of the economy, significant facilitation of logistics and much more, which compared to the temporary difficulties during the period of operation of two currencies for the transition period to the euro and the hyperbolized threat of rising inflation is worth the extra effort and patience.

The Bulgarian Chamber of Commerce and Industry will once again provide economic operators with the full range of highly efficient and quality services, proven for almost 130 years, in accordance with the standards of the International Chamber of Commerce, Paris - from finding partners, through the implementation of cooperation - all the way to the resolution of commercial disputes. Of course, the services will be available to our members under preferential conditions, because they, with their commitment to the problems of the Bulgarian economy and with their participation in the development of the most balanced proposals to solve key issues of our development, contribute every day to achieving a more sustainable economic environment.

We are obliged to note two important steps. The first is the connection of the Voluntary Register of the BCCI and the register of BG Barcode products of GS1 Bulgaria, providing even greater transparency of information for companies and citizens, unachieved by the majority of related organizations around the world. The second is the decisive approach of the Arbitration Court at the BCCI to our regional structures by significantly expanding the list of arbitrators and bringing them closer to the most democratic and proven arbitrations in the world.

In 2024, together with the important developments we expect, we will have to report the degree of implementation of the foundational document - the Guidelines for the activity 2019-2023, invariably reflecting the recommendations indicated by the business and our 55,000 members. We need to prove again that the BCCI is the organization traditionally trusted by the most stable and resilient companies, empowering the Chamber to represent them in the social dialogue.

With joint efforts and due care from the entire highly qualified team of the system of chambers of commerce in Bulgaria, this is a mission possible and we, as always, will undertake it responsibly.

With wishes for a more successful year 2024, we will walk beside you, and when it is difficult, we will also stand in front of you, striving forward and upward towards a better economy and a more successful Bulgaria.

Tsvetan Simeonov
Chairman of the Managing Board of
the Bulgarian Chamber of Commerce and Industry