The bilateral trade between Bulgaria and Hungary has potential for development

The newly appointed Bulgarian Ambassador to Hungary Hristo Polendakov visited the Bulgarian Chamber of Commerce and Industry and talked with its President Tsvetan Simeonov.

The priorities of Ambassador Polendakov’s mission and specific topics concerning the bilateral economic cooperation were discussed at the meeting. The diplomat said that his work will be focused mainly on the economic sphere.

The President of the Chamber presented important moments from BCCI’s cooperation with the Hungarian Chamber of Commerce and Industry, expressing satisfaction with the work of the joint Bulgarian – Hungarian Chamber. Upcoming bilateral events related to the 101^st anniversary of the establishment of diplomatic relations between the two countries and the upcoming forum under the Three Seas Initiative, in which Hungary and Bulgaria are active participants, were discussed.

Specific steps towards balancing bilateral trade were also a topic of discussion. It was noted that Bulgarian food products are selling well on the Hungarian market, but more work should be done to diversify the range of Bulgarian goods.

Hungarian investments in the banking and financial sectors, transport and other sectors are another opportunity to deepen the bilateral cooperation. During the meeting tourism was singled out as one of the factors for more active business interaction.

In the period 2011-2019, bilateral trade increased steadily, but there is still untapped potential for development.