Economy Ministry: Trade between Bulgaria and South Africa reached $221M in 2018

Economy Ministry: Trade between Bulgaria and South Africa reached $221M in 2018

Bilateral trade between Bulgaria and South Africa reached $221 million in 2018, with Bulgarian exports amounting to USD 178 million and imports USD 43 million, Bulgarian Deputy Economy Minister Luchezar Borissov said in May 16.

Speaking at a South African Economy and Investment Seminar organised by the South African embassy and the Bulgarian Chamber of Commerce and Industry, Borissov said that Bulgaria would encourage initiatives aimed at contributing to the development of mutually beneficial trade and investment cooperation between the two countries.

Borissov said that there great potential for strengthening bilateral trade and economic cooperation between Bulgaria and Africa.

“We are very pleased to see the increased volume of mutual trade in recent years,” he said.

Borissov said that in recent years the main categories of goods exported from Bulgaria to South Africa include petroleum oils, copper bars, electric accumulators, sunflower and safflower oil as well as fruit.

Products imported from South Africa include sheepskin, wool, coal, goods lorries and passenger cars.

“We would like to attract investment from South Africa in areas such as the high-tech industry, information and communication technologies, electronics and electrical engineering, machine building, co-production of motor vehicle parts, pharmaceuticals and agriculture,” Borissov said./ibna