site.btaBulgarian Companies Are Leaders in Some Sectors of Romanian Market - Economy Minister

Bulgarian companies have emerged as leaders in certain sectors of the Romanian market, Bulgarian Economy Minister Nikola Stoyanov said as he met with the Ambassador of Romania to Bulgaria, Brandusa Ioana Predescu. He said that Bulgarian companies have a significant share in the insurance and the lending market in Romania. 

"Bulgarian investments in Romania are many times more than Romanian investments in Bulgaria and this is a trend that I hope with joint efforts we can change," said Stoyanov quoted by his Ministry.

It transpired during the meeting that Bulgarian exports to Romania grew by more than 40% in the first ten months of last year and exceeded EUR 4 billion. "Trade for the same period amounted to EUR 7.247 billion, exceeding the initial forecasts of EUR 7 billion for the entire 2022," Stoyanov said.

The two sides agreed on more joint initiatives in 2023 to promote trade and investment between the two countries. A working group with experts from the two economic ministries is scheduled to meet in the second half of 2023 for consultations and cooperation to strengthen bilateral economic cooperation. 

Ambassador Predescu presented the Romanian experience on permanent screening of foreign investments and promised to provide more information. 

The reporting of indicators by the statistical institutes of both countries was also a topic of discussion. The two institutions cooperate on the basis of a signed memorandum, but a more detailed review of the data is needed, the Romanian side said.