site.btaEconomy Minister, US Ambassador Discuss Deepening Strategic Business Cooperation

Reducing administrative burden and the deadlines for the implementation of foreign investments in Bulgaria, as well as ways for monitoring of the process were on the agenda of talks between Economy Minister Bogdan Bogdanov and US Ambassador to Bulgaria Kenneth Merten, said the Economy Ministry on Tuesday.

„We’ll continue to work actively to tap the existing potential for advancement of our cooperation with the US and efficiently promote bilateral trade and US investments in Bulgaria,” said Bogdanov during the meeting.

The two discussed the potential and the ways to further bilateral economic relations in industry, commerce and energy diversification.

During the meeting Minister Bogdanov underscored Bulgaria’s accession of Schengen, the eurozone and the Organisation for Economic Co-operation and Development, noting that these are key priorities for Bulgaria.

The US market is among the key export destinations for Bulgarian high-tech products and a principal customer of outsourcing and engineering services. In the past years, the exports of electronics and electrical equipment has been sustainable. Between January and March 2023, Bulgarian exports to the US totalled USD 305 million and US imports totalled USD 245 million, compared with USD 281.4 million and USD 95.5 million respectively during the like period of 2022.