A New Target in Trade with Bulgaria: $10 Billion
Within the scope of the trade delegation program organized by the Türkiye Exporters Assembly in Sofia, the capital of Bulgaria, Turkish exporters convened with representatives of the Bulgarian business community, conducting over 350 bilateral business meetings.
Aiming to increase Türkiye's exports to Bulgaria and to cultivate new investment opportunities, the Türkiye-Bulgaria Trade Delegation and B2B Meetings event was held in Sofia. Coordinated by the Ministry of Trade and organized in collaboration with the Türkiye Exporters Assembly and the Bulgarian-Turkish Chamber of Commerce and Industry (BULTİŞAD), the event brought together Turkish and Bulgarian company representatives for bilateral business discussions.
The opening ceremony was attended by Minister of Trade Prof. Dr. Ömer Bolat, Bulgaria's Minister of Economy and Industry Petar Dilov, Türkiye's Ambassador to Sofia Mehmet Sait Uyanık, Chairman of the Türkiye Exporters Assembly (TİM) Mustafa Gültepe, Chairman of the Bulgarian-Turkish Chamber of Commerce and Industry Burhan Nemutlu, and Chairman of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov.
“Our businesspeople are among the most vital pillars of this relationship”
In his address, Minister of Trade Prof. Dr. Ömer Bolat underscored that Türkiye and Bulgaria are not only neighbors but also two friendly nations bound by robust economic and commercial ties. Emphasizing the growing cooperation in sectors such as trade, investment, tourism, and energy, Bolat stated, “Our businesspeople are among the most vital pillars of this relationship. You, our esteemed entrepreneurs, who build economic bridges between our countries, create employment, and bring innovative projects to life, are the greatest assurance of this friendship.”
Bolat emphasized that enhancing the existing cooperation opportunities between the two countries, expanding the volume of bilateral trade, and executing joint projects remain the primary objectives, stating, “In this regard, Türkiye is here with a strong and dynamic trade delegation. We believe this delegation will reinforce our commercial relations with Bulgaria and advance them across all domains.”
“The synergy between Turkish and Bulgarian business communities yields economic benefit to the entire region”
Bolat noted that Türkiye is one of Bulgaria's most significant trade partners, with the bilateral trade volume reaching $7.8 billion as of 2024, and that investments and joint projects are expanding with each passing day. He stated, “The synergy between Turkish and Bulgarian business communities brings economic benefit not only to the two nations but to the entire region.”
Highlighting the considerable potential for cooperation particularly in the sectors of energy, logistics, automotive, mining and metals, and agriculture, Bolat added:
“Bulgaria is our gateway to Europe; Türkiye, on the other hand, is a strategic partner enabling the Bulgarian business community to access the markets of Asia, the Middle East, and Africa. In this context, increasing mutual investments and strengthening the economies of both countries is our shared goal. With the strong will for cooperation between our nations and the determined efforts of our businesspeople, I have no doubt that we will continue to yield promising outcomes in our economic and commercial relations. I wholeheartedly believe this event will further advance the positive dialogue between our two countries.”
“Over the past decade, our exports to Bulgaria have followed an upward trend”
Speaking at the opening ceremony, Chairman of the Türkiye Exporters Assembly Mustafa Gültepe noted that Bulgaria has historically maintained its significance in global trade and emphasized Sofia's critical role as a transit hub connecting the Silk Road to Europe, along with its strategic location on the Danube River basin and the Black Sea ports.
Stating that they were in Bulgaria with 21 companies from various sectors to lay the groundwork for new partnerships, Gültepe highlighted that Bulgaria is among Türkiye's most important trade partners. He remarked, “In 2024, our bilateral trade volume approached $8 billion. Last year, approximately 12,000 of our companies exported to Bulgaria. When we examine the past ten years, we observe a general upward trend in our exports to Bulgaria. However, I must acknowledge that in some years, we fell short of the performance we had aspired to achieve. Therefore, our primary objective should be to stabilize our bilateral trade.”
“There is always a need for solid and stable neighbors in global trade”
Gültepe stated that Bulgaria ranks as Türkiye's 13th largest export destination, with exports reaching $5.2 billion in 2024, and noted that the leading sectors were ferrous and non-ferrous metals, chemicals, and mining. “During this period, 16 of our sectors succeeded in increasing their exports to Bulgaria. We hope all our sectors will sustain their achievements this year as well,” he said.
Underscoring the importance of stable and robust commercial relations, Gültepe concluded, “There is always a need for solid and stable neighbors in global trade. In this sense, the development of our relations with our friendly and neighboring country Bulgaria is undoubtedly significant. We must make the most of the opportunity to cultivate commercial ties that yield mutual benefits and contribute to the prosperity of our nations.”
“Türkiye is one of Bulgaria's most important foreign trade partners”
Bulgaria's Minister of Economy and Industry Petar Dilov emphasized that Türkiye is one of Bulgaria's most important foreign trade partners, noting that in 2024, the bilateral trade volume increased by 15% compared to the previous year, reaching €7.7 billion. He highlighted Bulgaria's appeal as an investment destination for Turkish companies and pointed out that Turkish firms have made significant investments across various sectors of the Bulgarian economy.
Over 350 Bilateral Business Meetings
The event also addressed the expansion of cooperation in energy, logistics, and tourism. Ministers Dilov and Bolat reached a consensus on the need to facilitate visa procedures for drivers, businesspeople, and technical experts in order to further encourage trade and investment.
Following the opening speeches, representatives from 21 Turkish exporting companies met with Bulgarian businesspeople. Within the framework of the event, which saw the participation of 156 Bulgarian firms, over 350 bilateral business meetings were held.