site.btaBulgaria-Romania Trade Expected to Top EUR 7 Bln in 2022

Bulgaria's annual trade with Romania is expected to surpass EUR 7 billion in 2022, Economy and Industry Minister Nikola Stoyanov said on Friday, opening a Bulgaria-Romania business forum in the Danubian city of Ruse. The forum involved over 100 companies from the two neighbouring countries as well as Bulgarian Ambassador to Romania Radko Vlaikov, Bulgarian Embassy in Romania Commercial Attache Ivailo Marinov, Romanian Embassy in Bulgaria Commercial Attache Radu Moldovan and Ruse Mayor Pencho Milkov.

Two-way trade increased by 40% in 2021 compared with 2020 and 55% in January-May 2022 compared with the first five months of 2021, Stoyanov said.

The Minister noted that Bulgarian companies are leaders in some segments of the Romanian market. One example is the supply of some food products: a Bulgarian company holds a leading position in the supply of pulses, another one dominates the pasta segment. Bulgarian companies hold a major share of the Romanian insurance market and even crediting.

Stoyanov said: "Bulgarian investments in Romania far exceed Romanian investments in Bulgaria, a situation which I hope we can change by joint efforts."

The two countries could cooperate in transport and digital connectivity, including by implementing joint EU-aided projects under their respective national plans for recovery and resilience, speakers at the forum said.