site.btaEconomy Minister: Trade with South Korea Increases by 48% in 2018

September 26 (BTA special correspondent Antoan Nikolov) -
 Bulgaria's trade with South Korea increased by an impressive 48
 per cent in 2018, reaching 286.6 million US dollars, Economy
Minister Emil Karanikolov told a bilateral business forum in
Seoul on Thursday. Karanikolov is accompanying Prime Minister
Boyko Borissov on an official visit to South Korea between
September 24 and 27.

During the business forum, Karanikolov underscored the potential
 for increasing the export of Bulgarian foods, grain, meat,
essential oils, yogurt, vegetables, chemicals, pharmaceuticals,
machine parts, electronics and textiles to the Far Eastern
country.

According to the Minister, Bulgaria is ready to increase its
support for future Korean projects in its economy, particularly
in automaking, electronics, high-tech and innovative industries.

There are 249 companies with South Korean participation
registered in Bulgaria, he said, assuring the audience that
Bulgaria will support new business initiatives and will try to
expand its partnership with the South Korean business community.

During the visit of the Bulgarian delegation, the sides signed:
a Memorandum of Understanding between the Bulgarian Small and
Medium Enterprises Promotion Agency (BSMEPA) and the Korea
Trade-Investment Promotion Agency (KOTRA); a Memorandum of
Understanding between BSMEPA and the Korea Importers
Association; a Memorandum of Cooperation between the Invest
Bulgaria Agency and KOTRA; and a Memorandum of Understanding
between Bulgaria's National Company for Industrial Zones and the
 Korea Industrial Complex Corporation. DT/VE

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