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Trade between Iran and Bulgaria is often done through the mediation of traders from other countries
The President of BCCI Tsvetan Simeonov met with the President of the Iranian – Bulgarian Business Association Saied Hadei, who has been representing the Iran Chamber of Commerce, Industry and Mines in our country for a few months.
Opportunities for bilateral economic cooperation were discussed. Bulgaria can propose to the Iranian market mainly food products – cheese, meat, cans; as well as fertilizers. Iran has successfully developed its ceramics, glass and chemical industry /production of polythene, polypropylene, polyester/, food industry /nuts and dry fruits, juices/, growing of flowers, textile industry, production of textiles for furniture.
In the course of discussion it became clear that trade between Iran and Bulgaria is often carried out through the mediation of traders from other countries. It is possible to negotiate more competitive prices if the two countries trade directly with each other. Besides, bilateral trade is highly unbalanced in favour of Bulgaria.
In 2011, Bulgaria's exports to Iran registered an annual increase of 12.5% to a total of USD 77.4 million, while imports from Iran fell by 46.47% to USD 3.8 million.
Main items of export from Bulgaria to Iran include phosphorus fertilizers, cigars and cigarillos, winches, chemical pulp, chipboards and food products.
Main items of import from Iran to Bulgaria include polyesters and epoxide resins, grapes and raisins, household glass items, oils obtained from bituminous minerals, extracts and essences.
Mr. Hadei explained that Iran was a convenient hub for the distribution of Bulgarian products on the Iranian market and the markets of Iraq, Afghanistan and the former Soviet republics in Central Asia.
Traders from both countries experience difficulties with transport. The distance between Sofia and Tehran is around 3000 km and cargo is mainly transported by road. Discrepancies in the price of transport were established, the expenses being almost double when transporting goods from Bulgaria to Iran.
Future joint initiatives with Iran Chamber of Commerce, Industry and Mines were outlined to facilitate economic cooperation between the two countries.
29.05.2012
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