Presentation of investment opportunities in the Free State province of South Africa

“The aim of the Bulgarian Chamber of Commerce and Industry and our partners from the Embassy of the Republic of South Africa is close cooperation and business promotion. That is why we hope that today’s seminar will achieve the desired results and meet the expectations, namely to provide more detailed information about the Free State province”, said BCCI’s Secretary General Vasil Todorov during his participation in a business seminar on “Investment opportunities in Free State province”, at the invitation of the Embassy of the Republic of South Africa in Sofia.

BCCI maintains good partnership relations with the South African Chamber of Commerce, and local assistance is provided by the representative of BCCI in the Republic of South Africa – Raycho Iliev.

According to Vasil Todorov, in view of the needs and possibilities of the well-developed South African market and the importance of the regional markets of the neighbouring countries (Botswana, Lesotho, Namibia and Swaziland), for the promotion of Bulgarian goods in the region close cooperation with local companies that know the characteristics of the market is required. 

Considering the main group of products imported by the Republic of South Africa and the opportunities of Bulgarian economy, BCCI reckons that most promising for distribution on the South African market are Bulgarian goods from the following sectors: light industry, food industry, chemical industry and woodworking.

Regarding the bilateral trade and economic relations between Bulgaria and the Republic of South Africa it was reported that in the first quarter of 2016 a total turnover of USD 32.0 million was achieved, of which Bulgarian exports amounted to USD 25.6 million, consisting of: sunflower and saffron oil, sunflower seeds, kraft paper and paperboard, etc. Imports from the Republic of South Africa in the same period amounted to USD 6.4 million, consisting mainly of vehicles, coal, etc.

For additional information: Raycho Iliev, Regional representative of BCCI for South Africa, e-mail: r.iliev@yahoo.com