Trade between Bulgaria and Iraq has reached an increase of 87%

The Bulgarian Chamber of Commerce and Industry welcomed representatives of the Erbil Chamber of Commerce and Industry and held a business forum and meetings with companies from the city of Erbil, the autonomous Iraqi region Kurdistan, North Iraq.

The president of the BCCI Tsvetan Simeonov greeted the guests and said that the economic connections between Bulgaria and Iraq, established a long time ago, are still going strong at both national and inter-regional commercial chambers level. He touched upon the visits and meetings between companies, organized with the assistance of the Haskovo Chamber of Commerce and Industry.

During the opening session of the forum in the BCCI, Deputy minister for Economic Affairs and Industry Irina Shtonova said that last year trade between Bulgaria and Iraq reached an 87% increase rate, amounting to more than 325 million USD. She pointed out that Bulgarian businesses are really interested and looking for different longtime options to enhance export to the Iraqi markets. With a view of this, Bulgaria is maintaining its Commercial and Economic Section in Erbil and is actively enhancing the commercial and economic cooperation between the two countries.

Addressing the participants, the Deputy-Minister for Economic Affairs and Industry highlighted Bulgaria as a business and investment destination and stressed on key advantages – the EU membership, the macroeconomic and financial stability and Bulgaria’s strategic geographical situation.

Soran Aziz, Vice-President of the Erbil Chamber of Commerce and Industry, pointed out that the two countries have strong, long-standing relations and the forum is an opportunity to develop them further, especially in the sectors of tourism and agriculture.

Additionally, during the forum A Memorandum of understanding was also signed between the two Chambers.

The program of the delegation from the Erbil Chamber of Commerce and Industry included also visits and meetings with Bulgarian companies in Sofia and the country.