News & Analysis

Bulgarian President Visits Armenia, Talks Business

Sofia Bulgaria - November 13 2016: Bulgarian President-elect Rumen Radev speaks during a news conference after the presidential vote.

A business delegation from Bulgaria has visited Armenia and discussed the development of business ties between the two countries. The delegation included the Bulgarian president’s secretary for economic growth and investment affairs, the CEO of an agency for SMEs, representatives of the association of industrial capital and chambers of trade and industry. Armenia was represented by deputy prime minister Hovannes Azizyan, who hosted the event at the ministry of economic development and investments.

During the meeting, the stakeholders discussed increased economic and investment cooperation. “Trade turnover has been developing between our two countries and exports should be diversified,” said Mr Azizyan.

Amongst the main areas which have perked interest are pharmaceuticals, mineral water and alcoholic beverage production. The Bulgarian team also scrutinised Armenia’s tourism potential, and the scope for future cooperation given Bulgaria’s expertise in attracting large numbers of visitors.

The trade delegation is part of the Bulgarian President Rumen Radev’s official visit to Armenia. Besides business, the two countries discussed and signed agreements relating to the regulation of labour migration, as well as cooperation in fields of technology, communication and culture.

“Our peoples expect closer and more effective cooperation from us,” the Bulgarian president said.

According to official Armenian data, exports from Armenia to Bulgaria totalled 286.2 million US dollars in 2017 (an increase of 87.8 per cent).