Thursday, 26 October 2023

Doing business in Bulgaria- Bulgarian customers prefer Greek products


Doing business in Bulgaria- Bulgarian customers prefer Greek products

Athens, October 26, 2023 | Following the Thessaloniki International Fair 2023, in which Bulgaria was the honored country, Enterprise Greece organized the online information event "Doing Business in Bulgaria-Challenges & Opportunities" on October 18, 2023, in collaboration with the Economic & Commercial Affairs Office of the Greek Embassy in Sofia.

This was Enterprise Greece's 19th straight event in the framework of information on specific target markets, and as indicated by the massive attendance, Greek exporters' interest in this market has been intense. The event "Doing Business in Bulgaria" had 116 registered attendees, with the primary subjects being the Bulgarian market and business climate, with a focus on the food and beverage, building materials, and construction sectors.

The speakers at the event emphasized that Bulgaria is a business-friendly country, with low public debt and tax rates, as well as a very favorable company repayment time ratio.

The conclusion was that Greece's commercial relations with its neighbor are excellent. Indeed, given the trend of Bulgarian consumers toward quality and high quality Greek products (premium), which is also reflected in the continuing rise of Greek exports to Bulgaria, there are exceptionally positive possibilities for their future strengthening. The enormous number of Greek enterprises operating in Bulgaria, the recognition and high reputation that Greek products have achieved in the Bulgarian market, and the growth in Bulgarian visitors visiting our nation all contribute significantly to this.

Significant export potential is provided for items of high quality and nutritional value (organic products, seafood, fresh and frozen, but also fruit and vegetables, PDO/PGI wines, and spirits), as was usually underlined. The need to recognize Greek excellent goods through gastrotourism was also emphasized. Another area that has emerged in recent years is construction and building materials, where export prospects in high-quality houses and structures are rising.

Ms. Betty Alexandropoulou, Executive Director and Member of the Board of Directors of Enterprise Greece, stated at the event's start: "The Bulgarian market presents a plethora of opportunities for Greek exporters and entrepreneurs due to its economic growth, proximity, similar consumption habits, the large number of Greek companies operating in Bulgaria, but also the familiarity and appreciation that Bulgarian consumers have for Greek products." Greek exports to Bulgaria increased by 124% in 2022 compared to 2021, whereas Greek items previously sold to Bulgaria are many and diverse, ranging from industrial and chemical to building materials and culinary products. The momentum must be maintained, and the flow of our exports must be increased to the neighbouring country further enhanced."

In the context of the review of bilateral relations between Greece and Bulgaria, the Head of the Economic & Commercial Affairs Office of the Embassy of Greece in Sofia, General Counsel of O.E.Y. Mr. Dimitrios Mihas, stated that "Focusing on the Bulgarian market, we co-organized with Enterprise Greece the online export event entitled: "Doing Business in Bulgaria." Bulgaria has been our country's most important economic and commercial partner in the Balkans in recent years, and one of the most important internationally. The Economic & Commercial Affairs Office of the Embassy in Sofia remains available to Greek exporting enterprises as well as all relevant extrovert corporate entities interested in exploring the possibilities of working in the country.