site.btaBulgaria Boosts Economic Cooperation with Belarus

Bulgaria Boosts Economic Cooperation with Belarus

Sofia/Minsk, September 24 (BTA) - Deputy Economy Minister Daniela Vezieva participated in the fifth session of the Intergovernmental Bulgarian-Belarusian Commission on Trade, Economic, Scientific and Technological Cooperation in Minsk on Thursday, the Bulgarian Economy Ministry said. Vezieva chairs the Bulgarian side of the Commission. The Belarusian side is led by Deputy Foreign Minister Elena Kupchina.

The agenda featured key aspects of bilateral cooperation, including trade, investments, tourism, agriculture, transport, and information and communication technology.

Vezieva also met with Foreign Minister Vladimir Makey. They discussed possible ways to strengthen economic ties and tap the two countries' potential better.

Vezieva opened a business forum with the participation of Bulgarian and nearly 80 Belarusian companies, organized by the Bulgarian Small and Medium Enterprises Promotion Agency and the Belarusian agency.

In 2014, compared to the like period of 2013, commodity exchange between Bulgaria and Belarus increased by 34.8 per cent to reach 88.9 million US dollars. Bulgaria's exports increased by 43 per cent to 57.8 million US dollars, while the imports grew by 21.8 per cent to 31.2 million US dollars. Two-way trade increased by 79.8 per cent to 26.5 million US dollars.

In the first half of 2015, bilateral commodity exchange reached 36.3 million US dollars: the exports stood at 16.5 million US dollars and the imports were at 19.8 million US dollars. There has been a regular increase of Bulgarian investments in Belarus: since 2009 they have increased up to 15.2 million US dollars.

In 2014, Bulgaria's exports consisted mostly of medicines and washing machines. The remaining groups of products had a share of below 5 per cent. Pneumatic tyres, oil gas, spare parts and accessories for automobiles top the list of goods imported from Belarus.