site.btaCanadian Chamber of Commerce in Bulgaria Officially Inaugurated

The Canadian Chamber of Commerce in Bulgaria – CanCham - announced its official establishment at a ceremony at the National Archaeological Museum in Sofia on Wednesday evening, the Chamber reported Thursday. Its aim is to strengthen economic ties between Bulgaria and Canada in the context of the Canada-European Union Comprehensive Economic and Trade Agreement (CETA) and consolidate the common vision of promoting bilateral trade, investment and cooperation between the two countries.

The ceremony brought together key stakeholders from various institutions, diplomats, business leaders, and officials from other bilateral chambers in Bulgaria. Innovation and Growth Minister Milena Stoycheva also attended CanCham’s inauguration.

"The establishment of CanCham in Bulgaria will contribute to the expansion of trade and economic ties between Bulgaria and Canada, one of the leading countries in the G7 and the world’s tenth-largest economy. In the context of CETA, this enables Bulgarian businesses to enter the Canadian market and Canadian investment in Bulgaria to increase significantly. I am convinced that CETA is the first step towards the formation of a powerful transatlantic economic bloc as a response to the current complex geopolitical and geoeconomic challenges," CanCham President Alex Nestor said. 

Over 20 companies have already become members of the Chamber, which was established with the support of the Canadian Embassy in Bulgaria and leading companies in the banking and outsourcing business with Canadian ownership, including Postbank and TELUS International.

Addressing the event, the Ambassador at the Embassy of Canada to Romania, Bulgaria and Moldova, Gavin Buchan, said that Bulgaria and Canada are good partners in many respects, and thanks to the CETA agreement new opportunities for business growth are opening up by eliminating customs duties and reducing barriers to cooperation.