Trade and economic relations between Bulgaria and Azerbaijan discussed at an online event

The trade and economic relations between Bulgaria and Azerbaijan were discussed during an online event organized and held by the Bulgarian Chamber of Commerce and Industry with the active participation of the Embassy of Azerbaijan in Sofia.

The President of BCCI Tsvetan Simeonov opened the event and said that it was the first of a series of similar meetings in an online environment organized by the Chamber. He stressed the opportunities offered by both countries for joint business projects – trade, investment and cooperation.

H.E. Ms. Nargiz Gurbanova, Ambassador Extraordinary and Plenipotentiary of the Republic of Azerbaijan in Sofia, also took part in the event as one of its initiators. She stressed that the partnership between Bulgaria and Azerbaijan is strategic and in addition to the gas and oil industries, there are many other areas in which businesses from both countries have interests: transport, tourism, agriculture, information and communication technologies. She also provided up-to-date information on the measures taken by the state with regard to the Covid-18 pandemic. USD 2 billion have been allocated to revive the economy.

Gabriela Dimitrova, Director “International Cooperation and International Organizations” at BCCI, presented statistics on the trade between Bulgaria and Azerbaijan, which is active but modest in volume. BCCI presentation

Mr. Zohrab Gadirov - Director of Investment Promotion Department, at the Azerbaijan Export and Investment Promotion Foundation, AZPROMO presented the economic and investment climate in the country.

Mrs. Leyla Mammadova - member of the board of directors of "Agro Procurement and Supply" OJSC showcased the experience in the agricultural sector.

For 2019, leading in Bulgaria’s exports to Azerbaijan were the following commodity groups: medicines (21.7%); cigars (18.8%); textile wadding (8.2%) and appliances and devices for processing of materials through temperature change (5.5%). Imports from Azerbaijan mainly comprised of: mineral or chemical nitrogen fertilizers, essential oils, raw or unprocessed tobacco, etc.

The meeting featured presentation of traditional Bulgarian products, including organic wines from the “Bononia Estate”, “Orbelus” and “Villa Melnik” wineries.

During the event, many ideas and proposals for bilateral business were exchanged, which will be processed by the BCCI and the Embassy of Azerbaijan in Sofia.

As promising areas for trade and economic cooperation between the two countries were identified: infrastructure construction and building, agriculture, food processing, IT, oil and gas industry, energy and tourism.