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BCCI signed Memorandum of Understanding with the Azerbaijan Export and Investment Promotion Foundation /AZPROMO/





 
The President of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov signed a Memorandum of Understanding with the Azerbaijan Export and Investment Promotion Foundation /AZPROMO/, represented by its President Adil Mammadov. The signing took place during a business meeting between Bulgarian and Azerbaijani companies in Baku today, 27 April 2012. The meeting is part of the visit of the Bulgarian Prime Minister Mr. Boyko Borisov in Baku.  
The main purpose of the visit is to enhance the economic cooperation between Baku and Sofia. Bulgaria was promised to become the first EU Member State to get natural gas from Azerbaijan along the southern direction, part of the Nabucco – Turkey, Greece and Italy pipeline route. The first gas deliveries from Azerbaijan can be made as early as 2014, for which purpose an acceleration of the construction of the pipeline connecting our country to Turkey and Greece is needed. According to the President of BCCI, cooperation in the field of energy will boost trade between the two countries as well. 
Even though there has been an increase in trade turnover, we find that trade with Azerbaijan is too unbalanced. The aim of this visit is to try the information channels, so that Azerbaijani goods can enter the Bulgarian market. 
Bulgaria’s exports to Azerbaijan have seen a growing trend in recent years, while imports have been symbolic, with the exception of 2006 when a single-time importation of oil was made to the total amount of USD 44 million.
In 2011 bilateral trade increased by 13.2% as compared to 2010, and Bulgarian exports to Azerbaijan grew by 25.6%. Last year it amounted to USD 33 million.
During the meeting at AZPROMO, Mr. Simeonov presented the Bulgarian economic environment and conditions for business.
At the moment, bilateral meetings are being held between 12 Bulgarian businessmen and about 50 companies from Azerbaijan, interested in the following sectors: agriculture, food industry, fruit and vegetables, construction, pharmacy, logistics and tourism. Mr. Simeonov discussed opportunities for future cooperation with a company which organizes fairs and exhibitions, with law firms which may provide assistance and services to foreign companies in Azerbaijan, as well as with other companies which are interested in finding Bulgarian partners. 

27.04.2012

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