site.btaBulgaria-Uzbekistan Business Forum Held in Sofia

Bulgaria-Uzbekistan Business Forum Held in Sofia

Sofia, June 27 (BTA) - There is a huge untapped potential in Bulgaria's trade and economic relations with Uzbekistan, Bulgarian Deputy Economy Minister Lyuben Petrov told a bilateral business forum in Sofia on Monday. Petrov said his country views Uzbekistan as a priority partner in Central Asia. "We value the good cooperation between our two countries and express our firm desire to strengthen and develop it further," he stated.

In 2014, annual trade between the two countries amounted to 26.6 million US dollars, including 24.5 million dollars in Bulgarian exports to Uzbekistan, Petrov said. In 2015, however, two-way trade dropped by 22 per cent compared with 2014, with Bulgarian exports to Uzbekistan falling by 23.5 per cent and Uzbekistani imports to Bulgaria decreasing by 3.8 per cent.

Bulgarian exports to Uzbekistan are traditionally dominated by medicines, medical equipment and tools, production lines for fruit and vegetable processing, and cosmetic products. There are real opportunities to expand the list by adding farm product processing equipment, food production machinery, construction materials, mechanical engineering products and electrical engineering goods, Petrov said.

He expressed Bulgaria's willingness to exchange business delegations, visits and forums with Uzbekistan and to support companies in the two countries, particularly small and medium-sized businesses.