19.11.2018
Prime Minister Boyko Borissov and Turkish Trade Minister Ruhsar Pekcan discussed the possibilities for expanding the cooperation in bilateral trade relations.
The development and intensification of the trade and economic partnership between Bulgaria and Turkey was at the core of the conversation. The deepening of relations in different sectors, such as bilateral trade, investment, and construction was highlighted.
Prime Minister Boyko Borissov and Turkish Minister Ruhsar Pekcan noted the good work accomplished at the joint business forums of Bulgaria and Turkey, as well as the successful work of the Bulgarian-Turkish Joint Intergovernmental Committee for Economic Cooperation.
In 2017, export to Turkey amounted to 2,077 billion euro, accounting for 7.8% of total exports and marking a 10% growth. Imports from Turkey amounted to 1.906 billion euro, which is 6.3% of total imports and represnts a growth of 17.3%. Bilateral trade for the period amounted to 3,984 billion euro. Turkey ranks 4th in Bulgarian exports after Germany, Italy, and Romania and 5th in imports after Germany, Russia, Italy, and Romania.
In 2017 Turkish investments in Bulgaria amounted to 81.1 million euro. Turkish companies in Bulgaria are mostly interested in projects related to the construction of the transport and energy infrastructure in the country, as well as to the construction of residential, commercial, and office buildings, as well as to the banking sector. The food, chemical, and textile industries also offer a wide range of opportunities for investment. There is potential for the entry of more automotive manufacturers - a sector in which Turkey has strong traditions and a considerable share in world production.
In 2017 Bulgaria was visited by 636,046 Turkish citizens, registering a growth of 12.5%, and Turkey ranked 4th by number of tourists after Greece, Romania, and Germany.
