The new Bulgarian Ambassador to Central America visited BCCI
The newly appointed Bulgarian Ambassador to the United Mexican States H.E. Mr. Hristo Gudzhev visited the Bulgarian Chamber of Commerce and Industry on 14 May 2012. The President of BCCI Tsvetan Simeonov and the new Ambassador discussed the development of trade and economic relations with Central America.
Ambassador Gudzhev will be accredited to Mexico, Belize, Guatemala, Honduras, El Salvador, Nicaragua, Costa Rica and Panama. He emphasized promoting more active cooperation between Bulgarian companies and partners from the region as one of the main goals of his mission.
Mexico has overcome the negative impact of the global financial crisis. The country aims to become more independent economically, as opposed to the previous strong affiliation to the economic and financial system of the United States. Currently, inflation in Mexico is 3.5%, domestic debt – about 2.5% and unemployment – 5%.
Mr. Simeonov presented BCCI’s potential and expertise in assisting Bulgarian and foreign companies. The need to promote Bulgarian products on the Central American market was discussed. As of 1 January 2007 Bulgaria and Mexico trade freely.
In 2011 bilateral trade volume increased by almost 72% as compared to the same period of 2010. In 2011 it amounted to a total of USD 42.33 million. Bulgarian exports to Mexico grew by 69%. Imports from Mexico registered a growth of 89% as compared to the same period of 2010.
In 2011, Other articles of vulcanised rubber, other than hard rubber occupied the leading position in Bulgarian exports to Mexico with a share of 18.71%, worth USD 6.72 million. The export list of Bulgaria also included Raw or unmanufactured tobacco with a share of 16.21% (exports worth USD 5.82 million) and Mineral or chemical fertilizers (exports worth USD 4,26 million).
In 2011 Bulgaria imported from Mexico mainly reaction engines, constituting 43.05% of all imports from Mexico, worth USD 2.76 million.