A memorandum on the creation of an Armenian-Bulgarian Chamber of Commerce and Industry was signed here on Tuesday by Gagik Makaryan, Chairman of the Republican Union of Employers of Armenia, and Vassil Velev, Chairman of the Association of Industrial Capital in Bulgaria (BICA). The ceremony was attended by Bulgarian President Rumen Radev of Bulgaria and the visiting President of Armenia, Vahagn Khachaturyan.
The Chamber will promote cooperation between companies from the two countries, focusing on areas such as mechanical engineering, green economy, food trade, tourism, as well as exchange of workforce, and training of relevant specialists in educational centres of Bulgaria and Armenia, with an emphasis on providing personnel for a number of technical professions, said the press office of the Association of Industrial Capital in Bulgaria.
According to the Bulgarian Ministry of Economy and Industry for 2021, trade between Bulgaria and Armenia amounts to USD 42.556 million. The leading commodities are petroleum oils, tractors, hydraulic turbines, medicines and medical instruments, ethyl alcohol and knitted and textile products. Direct Armenian investment up to 2021 amounted to EUR 15.4 million.
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