76 Bulgarian companies have Trade Representative Offices in Russia

The Bulgarian Chamber of Commerce and Industry organized a presentation for Bulgarian companies willing to register a Trade Representative Office in the Russian Federation. The seminar was organized and held with the active participation of the Federal Budgetary Institution “State Registration Chamber” with the Ministry of Justice of the Russian Federation.

The President of BCCI Tsvetan Simeonov opened the event saying that in times of crisis and insecurity Bulgarian business is looking for various possibilities to enter new markets. Opening a branch or Trade Representative Office in the Russian Federation is such an opportunity. According to Mr. Simeonov, being well-informed is one of the main prerequisites for realization of these plans.  More than 20 Bulgarian companies took part in the seminar and the subsequent discussion.

Igor Ilingin, Commercial Representative of the Russian Federation in Bulgaria welcomed the participants in the seminar and informed that the trade and economic relations between Bulgaria and Russia are developing rapidly. In 2011 trade turnover amounted to USD 6 billion. According to him, presence at the boundless Russian market may serve as a guarantee for successful business.

The Deputy Chairman of the State Registration Chamber Vladimir Vorobev presented the organization’s activity. It registers Russian investments abroad, keeps a register of the agreements for international and domestic economic relations signed by the Russian institutions, provides assistance for the personal accreditation and visa maintenance of the accredited associates of the Representative Offices and branches of foreign legal entities.

At present, only 6 Bulgarian companies have registered branches in Russia, and 76 – Trade Representative Offices. The participants were informed that the registration process takes up 30 days. At the moment a system for electronic submission and processing of documents is being developed.

Bulgarian companies interested in receiving more information about the registration process may visit www.palata.ru or call BCCI, Trade Register and Membership Directorate, tel.: +359 2 8117 476.

At the end of the seminar, in compliance with the cooperation agreement between BCCI and the State Registration Chamber, it was agreed to organize a similar event in Moscow in the autumn of 2012.