Bulgaria with Special Large-Scale Strategy to Boost Exports in 2008-2013
September 19th, 2008
Bulgaria’s Minister of Economy Petar Dimitrov and his Deputy Yavor Kuyumdzhiev presented the government’s export strategy for the period 2008-2013.
According to Dimitrov, the export strategy was approved by the Council of the governing coalition during its meeting in Bansko, and was to be submitted for approval to the Parliament.
The aim of the new strategy is to make Bulgaria’s trade balance positive by 2014. Currently the country’s trade deficit is 25,5% of its GDP.
The plan envisages that in 2018 Bulgaria’s exports will amount to EUR 75 B. In 2007 the country exported goods and services for under EUR 30 B.
Dimitrov said the GDP was expected to grow about 7% per year, the foreign investments were expected to maintain at least their current level, whereas the country’s exports were supposed to grow 18% per year.
According to the new strategy, Bulgaria is also going to build 100 new industrial zones with attractive terrains for foreign investors. About BGN 100 M will be set aside from the state budget for the development of these zones every year.
The Bulgarian government is also going to be more selective with respect to the foreign investors allowed in the country, and will throw its support behind the manufacturing businesses.
The exports strategy points at the high-tech manufacturing, products from ferrous metals, pharmaceutical production, chemical industry, and research and development as the main exports priorities.
The government also plans to open information centers in at least 30 countries in order to attract more investors. They will be managed by a special agency, which will be named Bultrade. A consultative council of the government, and a special exports council at the Economy Ministry will also be set up.
