Bulgarian-Turkish Trade Reaches New Heights, Eyes €10 Billion Milestone

Bilateral trade between Bulgaria and Turkey reached a record high in 2024, totaling 7.7 billion euros, marking a 15.6% increase compared to the previous year. Economy and Industry Minister Petar Dilov highlighted these figures at the opening of a Bulgarian-Turkish business forum in Sofia, alongside Turkish Trade Minister Ömer Bolat. The event brought together over 120 business representatives from both countries.

Dilov and Bolat expressed confidence that bilateral trade could reach 10 billion euros within the next two years. In 2024, exports to Turkey accounted for 6.7% of Bulgaria's total exports, making it one of the country’s top export destinations. The Bulgarian minister emphasized that these numbers reflect the strong economic ties between the two nations but noted that further opportunities remain to deepen cooperation and establish new business partnerships.

Turkish investment in Bulgaria has also been growing, with over 2,500 Turkish companies operating in the country and investments exceeding 2.6 billion euros. Bolat described Bulgaria as a strategic entry point for Turkish businesses into European markets. Meanwhile, Dilov encouraged Turkish investors to explore opportunities in Bulgaria's industrial parks, assuring them of full institutional support from the Ministry of Economy and Industry.

During a bilateral meeting, the two ministers discussed ways to strengthen economic cooperation and identified key sectors for potential growth, including information and communication technologies, logistics, engineering, electronics, automotive manufacturing, textiles, chemicals, agriculture, and the food industry. They also noted the potential for increased joint projects and inter-company collaborations.

Dilov stressed that Bulgaria remains an attractive destination for investment, with government policies focused on reducing administrative burdens, maintaining financial stability, and supporting high-tech industries. He reiterated Bulgaria's commitment to fostering a competitive, resource-efficient, and low-carbon economy, which he believes will be of particular interest to Turkish businesses.