Approaches to promoting trade between Bulgaria and Argentina

During the meeting, two major topics were discussed: the economic ties between the two countries and possible approaches to promoting bilateral cooperation between companies. According to Mr. Simeonov, trade volume between Bulgaria and Argentina is unsatisfactory. As a whole trade is unevenly distributed – even though measured in absolute it grows steadily, the balance for our country is negative.

In 2011 as compared to the previous year, trade between Bulgaria and Argentina grew by 107.07 %, mainly due to the 400 % increase of Bulgarian exports. Imports from Argentina in 2011 were 20 % lower than in 2010.

According to Ambassador Azrak agriculture, food industry and power engineering are the most perspective sectors for development of trade and economic cooperation between Bulgaria and Argentina. He noted that Argentinean goods usually enter Bulgarian market through third countries, including through other EU member states.

With the intermediation of the Embassy of Argentina, the Argentinean Chamber of Commerce has proposed a draft cooperation agreement with BCCI. The two chambers are expected to agree on the final version of the agreement and to sign it at a proper bilateral business event in 2013. Ambassador Azrak informed about upcoming political consultations and the next session of the Joint Intergovernmental Committee on Economic and Technical Cooperation in Argentina.

Another topic discussed during the meeting was the survey, prepared by BCCI per request of the Embassy of Argentina, of the status of one of the sectors of industry in Bulgaria, the used machines and equipment, as well as the intentions of Bulgarian companies to invest in the sector.

Because of the limited number of Bulgarian tourists that visited Argentina over the last couple of years, the Embassy of Argentina in Sofia is organizing a presentation of Argentina as tourist destination on 6 November 2012. The event will take place in Sofia Hall, Interpred, 36, Dragan Tsankov Blvd., Sofia at 4:00 p.m. For additional information: Embassy of Argentina, tel.: +359 2 971 25 39, e-mail: ebulg@mrecic.gov.ar