Global India business forum presented honorary membership (Mr) ILIYA DEKOV, Minister Plenipotentiary, Head of Trade and Economic Affairs, Embassy of the Republic of Bulgaria to India.
We had a fruitful discussion to collaborate GIBF and Bulgaria to explore different business opportunities and trade between two countries. Global President- GIBF Dr. Jitendra Joshi and Director - Global Operations Deepali Gadkari attend the meeting.

Exports :

Fuels, manufactured goods (clothing, footwear), machinery and transport equipment and chemicals.

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Imports :

Raw materials, oils and mineral fuels, electrical machinery, industry machinery, motor vehicles, and parts, plastic, pharma products, ores, and iron and steel material

Bulgaria is one of the most business-friendly and cost-effective country for foreign investments in comparison to other member states of the European Union. The country’s tax system offers the lowest corporate tax in the EU. It has a qualified and cost-effective workforce, affordable office rents, and low production and transport costs. The cost of doing business is very competitive for foreign investors.

In January-August 2022, Bulgarian export increased by 41.6% and the import by 45.3%, year-on-year. According to snap statistics, the exports were worth BGN 62,164.8 million and the imports BGN 70,223.1 million (at CIF prices)

Bulgaria majorly exports refined copper ($1.2B), packaged medicaments ($1.08B), refined petroleum ($1.02B), raw copper ($1.01B) and precious metal ore ($761M), to Germany ($5.31B), Romania ($2.94B), Italy ($2.51B), Turkey ($2.1B), and Greece ($2.01B).

The countrys main imports are copper ore ($1.62B), crude petroleum ($1.42B), packaged medicaments ($1.3B), cars ($1.19B), and broadcasting equipment ($675M) from Germany ($3.99B), Turkey ($2.63B), Romania ($2.59B), Italy ($2.29B), and Russia ($2.15B).