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Senegal is an entrance for Bulgarian business to the region of West Africa









 
The President of BCCI Tsvetan Simeonov and members of the Board of Directors of BCCI met with the Minister of Foreign Affairs of the Republic of Senegal. Minister Madicke Niang got acquainted with the activity of BCCI, its regional structures and the work of the Arbitration court with the Chamber. He said that he sees opportunities for cooperation both on state level and with chambers of commerce. For this purpose, a joint intergovernmental committee may be established to expand the legal basis for cooperation, because at the moment there is no operating agreement in the field of economy and trade between the two countries.


Establishing close relations and signing a cooperation agreement between BCCI and the Chamber of Commerce and Industry of Dakar was discussed as another possibility to overcome the lack of communication and awareness of business opportunities in Bulgaria and Senegal.


Minister Niang presented his country as very stable politically, with established democratic structure. This stability is the basis for foreign investment. He said that Senegal is a country of hospitality. It is also known as the entrance of West Africa. The country participates in the Monetary Union of West African States forming a free trade area.
The participants in the meeting were informed of the work of the Investment Promotion Agency of Senegal, which assists foreign investors. Anyone could register a company in the country within 48 hours. The law allows transfer or repatriation of income earned.


Agriculture in Senegal has undergone unprecedented boom. Amid the lack of food on the African continent, the country meets its needs and even exports some agricultural products and foods, such as fish. Tourism is another sector in which significant success has been achieved and a lot of serious foreign partnerships have been established.
Mr. Simeonov expressed BCCI’s readiness to work together and to sign an agreement with the Chamber of Commerce and Industry of Dakar. Besides, he invited experts from Senegal to make a detailed presentation of business opportunities in the country.


Minister Niang invited Bulgarian companies to visit Senegal and to see the hospitality of its people for themselves. 

28.10.2011

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