Bulgaria and Ukraine Forge Economic Ties: Trade Reaches $3 Billion

Trade relations between Bulgaria and Ukraine have reached unprecedented heights, with bilateral trade hitting a record 3 billion USD in 2022, according to statements made during the recent Bulgarian-Ukrainian business forum. The event saw the participation of nearly 70 companies from both nations, highlighting the growing economic cooperation between the two countries.

Ukrainian First Deputy Prime Minister Yulia Svyrydenko expressed gratitude to Bulgaria for its support and encouraged Bulgarian businesses to consider investing in Ukraine. The sentiments were echoed by acting Prime Minister and Minister of Foreign Affairs Dimitar Glavchev, who emphasized the significant growth in trade between the two nations, which has expanded sevenfold in recent years.

Economy Minister Petko Nikolov outlined key sectors driving the robust trade relations, including construction, the food industry, energy, transport and logistics, agriculture, and the pharmaceutical industry. Nikolov underscored Ukraine's status as a traditional and substantial business partner for Bulgaria, emphasizing the comprehensive and long-term nature of their cooperation.

During the forum, discussions centered on the promising areas for further economic collaboration, with a focus on fostering new business contacts, building partnerships, and implementing joint projects. Minister Nikolov stressed the importance of such initiatives, particularly in the face of the complex and volatile international economic landscape.

The geographic and cultural proximity between Bulgaria and Ukraine, coupled with shared Euro-Atlantic values and the presence of a large Bulgarian community in Ukraine, provide a solid foundation for strengthening bilateral economic ties. Participants at the forum explored opportunities for broadening trade and economic contacts, aiming to capitalize on the mutually beneficial cooperation between the two nations.

The event was organized by the Bulgarian Small and Medium Enterprises Promotion Agency and drew high-level participation from both countries, including representatives from government agencies, chambers of commerce, and industry associations. Discussions highlighted the commitment of both Bulgaria and Ukraine to further enhancing their economic partnership and exploring avenues for sustainable growth and development.

As Bulgaria and Ukraine continue to deepen their economic cooperation, the forum served as a platform for fostering dialogue, exchanging ideas, and charting a course for future collaboration. With bilateral trade reaching new heights, the prospects for mutually beneficial economic engagement between the two countries appear promising.

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