site.btaBulgaria, Australia Seek to Invigorate Business Ties

Bulgarian Chamber of Commerce and Industry (BCCI) Chair Tsvetan Simeonov conferred with Bulgarian Australian Business Council CEO Joana Kehlibarova, BCCI said in a press release here on Tuesday. The two sides discussed the need to take measures to intensify economic relations between Bulgaria and Australia. Simeonov and Kehlibarova agreed on exploring Bulgarian companies' willingness to participate in a business trip to Australia in the autumn of 2022.

Bulgarian-Australian trade remains modest and varies over a wide range, although there is a general upward trend, the BCCI said. In 2021, trade with Australia stood at USD 173.5 million, increasing by 39.1%, year-on-year. Compared to 2020, exports from Australia went down by 8.1% to USD 47.3 million while imports rose by nearly 72.4%, reaching USD 126.2 million, mainly due to increased volumes of copper ore and concentrates, rapeseed, ash and metal-containing wastes (different from the wastes resulting from the manufacture of iron and steel), among others.

The following sectors are promising for bilateral cooperation: agriculture, textiles, food industry, mechanical engineering, information technology, alternative energy sources.