BCCI Representative in South Africa outlined the potential areas for bilateral cooperation

Raycho Iliev, BCCI’s representative in the Republic of South Africa met with Mr. Tsvetan Simeonov, President of the Chamber. He presented his mission’s results achieved last year, as well as the economic situation in Africa. Opportunities to expand trade and economic relations between the two countries were discussed.

Mr. Iliev highlighted the potential of South Africa to set up hydroelectric power plants. The Republic of South Africa has a long-term programme for reduction of harmful emissions produced by thermal power plants in the country. They are planned to be replaced by “green” or renewable energy sources. The country has abundant water resources – over 1200 dams, which are a prerequisite for the construction of hydroelectric power plants.

During the meeting it was agreed to organize a business visit of Bulgarian companies to the Republic of South Africa and the following branches were specified as having potential to establish long-term cooperation: power and electrical engineering, machine-building, military industry, tourism, food industry, agriculture and others. The visit is expected to take place in March this year.

Mr. Iliev also presented a special road construction technology used in South Africa. The technology is innovative and relatively cheap and includes the laying of a special polymer. For additional information www.ecobond.co.za

Mr. Vladimir Popov, CEO of Vaptsarov Holding also took part in the meeting. The company has strong interests in the Republic of South Africa.