site.btaEuropean World Trade Centers Association Meets in Sofia

A regional meeting of European world trade centres began in Sofia on Monday, organized in partnership by the World Trade Centers Association and the Bulgarian Chamber of Commerce and Industry, a member organization.

The two-day business event brings together representatives of European world trade centres to share expertise and includes visits to sites such as Sofia Tech Park and Interpred – World Trade Centre Sofia.

During the event, held at the building of the Bulgarian Chamber of Commerce and Industry in Sofia, brief presentations were delivered to attendees by representatives of Invest Bulgaria Agency, Sofia Investment Agency, Automotive Cluster Bulgaria, Solar Academy Bulgaria, and Artificial Intelligence Cluster Bulgaria.

The meeting commenced with a congratulatory address from Minister of Economy and Industry Peter Dilov. Dilov welcomed conference participants, noting Bulgaria's economic and institutional stability as well as its strategic location.

Chair of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov pointed out that although there have been seven parliamentary elections and seven different governments in recent years, investors in the Bulgarian economy should know the authorities have ensured there will be no surprises for businesses, such as tax increases or unreasonable budgetary policies.

Chair of the European Regional Advisory Council of the World Trade Centers Association Ed Allison-Wright said that building business connections today is even more important than in the past, given the turbulence in global trade.

Secretary General of Invest Bulgaria Agency Yulian Balchev presented the agency’s activities and Bulgaria as an investment destination. He assured representatives of European world centres that the Bulgarian government supports business and that business processes in the country are straightforward. Balchev highlighted Bulgaria’s advantages for investors, such as low taxes, currency security referencing the currency board and the upcoming introduction of the euro, state subsidies regarding electricity prices for businesses, and access to an educated workforce.

Sofia Investment Agency’s Viktor Gusev said the agency partners with more than 20 companies that provide reliable data needed to compile information for businesses considering investment in Sofia.

Chair of Solar Academy Bulgaria Association Veselin Todorov pointed out to representatives of European world trade centres that Bulgaria is experiencing rapid growth in solar energy.

Executive Director of Automotive Cluster Bulgaria Lyubomir Stanislavov told attendees that the automotive industry is the fastest-growing sector in Bulgaria. He noted that in 2012, the sector's turnover in Bulgaria was only EUR 0.5 billion, while in 2024 it has already exceeded EUR 10 billion. There are 380 companies operating in the automotive sector with over 85,000 employees, compared to just 30 companies twelve years ago. The automotive sector accounts for between 10% and 11% of the country’s gross domestic product, according to Stanislavov's presentation.

Kristina Eskenazi, Board Member of Artificial Intelligence Cluster Bulgaria, said that the European Union has numerous regulations and ethical standards related to artificial intelligence, making it essential for businesses to have a clear understanding of the key issues when using these technologies.