site.btaPresident Radev: Italian Investors Contribute to Development of New Business Models in Bulgaria

President Rumen Radev discussed the prospects for further deepening of the economic, investment and trade cooperation between Bulgaria and Italy at a meeting with the leadership and representatives of the Committee of Italian Entrepreneurs in Bulgaria Confindustria Bulgaria, the Presidency said on Thursday. The Ambassador of the Italian Republic in Bulgaria Giuseppina Zara and the Chairman of Confindustria Bulgaria Roberto Santorelli participated in the talks.

The organization represents Confindustria Italia in Bulgaria, Europe's largest national industrial association. In Bulgaria, the association, which aims to attract new investments, brings together more than 220 companies from different economic sectors.

At the meeting President Radev and the guests noted the record increase in trade between Bulgaria and Italy in 2022 - in the first eleven months of 2022 it reached EUR 6.3 billion, which is an increase of nearly 35%. Bulgarian exports amounted to BGN 3.4 billion and grew by 41.4%. At the same time, Italy is the fourth largest investor in Bulgaria. Along with this, Italian investors contribute to the development of new business models of governance, as well as to the improvement of the business climate thanks to the active dialogue with the institutions, President Radev stressed.

The need to improve transport infrastructure and connectivity was discussed during the meeting as an important prerequisite not only for building up partnerships in the economic sphere, but also for promoting ties between the citizens of Italy and Bulgaria. In this regard, President Radev and Ambassador Zara noted the importance of the Transport Corridor 8 project.

The integration and promotion of sustainable approaches to achieve a green and energy-efficient economy were also among the topics of the meeting.