site.btaEconomy Minister: Turkiye Is Among Bulgaria's Leading Non-EU Trade Partners

Turkiye is among Bulgaria's leading trade and economic partners outside the European Union, and Turkish companies are among the biggest investors in Bulgaria, Minister of Economy and Industry Bogdan Bogdanov said here on Saturday. He was speaking at the opening of a Bulgarian-Turkish Business Forum, attended by over 250 companies from both countries, the Ministry of Economy and Industry reported. 

In 2022, bilateral trade hit a record high, exceeding EUR 7.3 billion, which is a 40% increase compared to 2021, Bogdanov said. 

He stressed that Turkish companies in Bulgaria now number over 2,200, and their interest in investing in Bulgaria is growing significantly. In his words, this is confirmed by the intention of a Turkish company, announced several days ago, to invest a new EUR 50 million in the modernization and expansion of its production in Shumen (Northeastern Bulgaria).

Alcomet AD will invest the funds in new buildings, machinery and equipment this year. The company has established itself in the production of parts for the automotive sector, and with this investment it will also start producing for the aviation industry.

The Minister said that on Friday, he had a telephone conversation with Turkish Minister of Trade Omer Bolat. The two discussed the intensification of bilateral trade and economic relations and what measures could be taken by the government to ease traffic at the border crossings between the two countries.

During the official opening of the forum, Turkish Ambassador to Bulgaria Aylin Sekizkok highlighted the good relations between the two countries, particularly in the fields of security, energy, trade and investment. 

This was the forum's second edition. It was organised by the Bulgarian-Turkish Chamber of Commerce and Industry. The focus of this year's forum was automotive industry, manufacturing, healthcare, construction, energy, furniture, IT and outsourcing, consulting and tourism services.

The aim of the business forum is to intensify bilateral ties between business representatives, provide opportunities for exchange of experience, ideas, expertise, as well as opening new opportunities for partnerships and development in the country and the region.