site.btaEconomy Minister Dilov, Italian Ambassador Zarra Discuss Opportunities for Intensifying Economic Relations

The opportunities for intensifying trade and economic cooperation were discussed by Bulgarian Minister of Economy and Industry Petar Dilov and Giuseppina Zarra, Ambassador of Italy in Bulgaria. The meeting was also attended by Confindustria Bulgaria President Roberto Santorelli, as well as the Deputy Minister of Economy and Industry Nevena Lazarova and the head Dilov's political cabinet, Tanya Atanasova, the Economy Ministry here said on Friday.

Italy is among Bulgaria's leading foreign trade partners, ranking 3rd in exports and 4th in trade, according to data for the first ten months of 2024.

"Italy is among the traditional partners of our country, we attach great importance to the development of bilateral relations and will continue to promote economic cooperation," Dilov said. He pointed out that Bulgaria seeks to attract Italian investments in high-tech industries and services with high added value.  In his words, the amount of direct investments from Italy in Bulgaria amounts to EUR 3.3 billion according to Bulgarian National Bank data.

Dilov and Ambassador Zarra discussed deepening cooperation in strategic sectors such as manufacturing, transport, energy, digital technologies and support for small and medium-sized enterprises. 

Dilov stressed that among his main priorities is the improvement of the business climate in Bulgaria and the reduction of administrative burdens. 

For her part, Ambassador Zarra pointed out that Bulgaria is an important economic partner of Italy and stressed that there are many Italian investments in the manufacturing sector in Bulgaria. The two also discussed Bulgaria's progress towards OECD membership and the process of joining the euro area.

The possibilities of organizing bilateral initiatives to help companies from both countries to implement partnerships were identified with Roberto Santorelli.