site.btaEconomy Minister Meets with Swiss Ambassador to Bulgaria

Economy Minister Petar Dilov met with Swiss Ambassador to Bulgaria Raymund Furrer, the Ministry's press centre reported here on Monday. "Switzerland is a strategic economic partner of Bulgaria, with a positive development of bilateral trade in recent years," Dilov said. 

The two pointed out that bilateral trade relations are following a positive dynamic, but there is great potential for intensifying cooperation. According to the data on trade in goods in 2023, the trade turnover with Switzerland amounts to nearly EUR 700 million, and in the first 10 months of 2024 alone it has already surpassed the figures for 2023, reaching EUR 750 million.

Dilov underlined that more and more Swiss companies are investing in Bulgaria, contributing to creation of new jobs, implementation of innovations and strengthening of economic ties. He added that Bulgaria is establishing itself as a preferred destination for high added value industries.

"These results are a clear sign that our economic relations are developing in a positive direction. Bulgaria and Switzerland have long traditions in trade and investment, and statistics show that the potential for deepening our partnership is huge," Dilov said.

During the conversation it became clear that Swiss companies are interested in various sectors of the Bulgarian economy, including IT, high-tech industries, automotive, cement industry, pharmaceuticals, food industry, etc. The expansion of existing investments, as well as the entry of new investors, contribute to the modernization of the economy and to the strengthening of ties between the business communities of the two countries.

"Our country is establishing itself as a key innovation hub for Swiss companies in Europe. We will continue to stimulate innovative industries with high added value and export orientation," the Minister said.

Minister Dilov also stressed the importance of industrial zones for the economic development of the country.

Furrer expressed his satisfaction that a significant number of Swiss companies are present in Bulgaria. "The companies and investors that are making decisions to invest and trade on both sides are proof of the opportunities that exist, as well as of our commitment to develop this relationship sustainably in the long term," he said, adding that cooperation in science and education is also an important aspect of bilateral relations.

They also discussed Bulgaria's progress towards OECD membership and the process of joining the euro area.