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Monday, May 21, 2018, 

Treaty on good neighbourliness increases trade between Bulgaria and Macedonia

Treaty on good neighbourliness increases trade between Bulgaria and Macedonia

Skopje, 1 February 2018 (MIA) - Trade between Bulgaria and Macedonia grew by nearly 11 per cent in 2017 whereat Bulgarian exports to Macedonia increased by 3 per cent, economic analyst Ljubomir Levicharov said explaining that it is because of the treaty on good neighbourliness signed between the two countries, Bulgarian TV Evropa reported.

Experts say that he interest for business trips to Macedonia has increased by double compared to last year.

According to last year’s research, the interest for business relations and business trips has increased by double. This is due to Bulgarian-Macedonian treaty on friendship, good neighbourliness and cooperation signed by end of last year, Levicharov said.

According to experts, Bulgarian companies exported goods amounting to €300 million in Macedonian market in the first nine months of 2017, whereat the import amounted €234 million.

Bulgarian investments in Macedonia are mainly concentrated in banking and insurance sector. Generally from Bulgaria we export energy, petroleum oil, sunflower and cottonseed oil. Imports of goods from Macedonia include copper, zinc or lead ores, Levicharov said.

Economic analysts are categorical that the current tendencies and the increase in the commodity exchange between Bulgaria and Macedonia will continue in the coming years.

Trade between the two neighbouring countries grew by 2.1 per cent in 2016 to a total of nearly 640 million euros, nearly 400 million euros of which was generated by Bulgarian exports to Macedonia.

Bulgarian companies mainly invest in banking and insurance, metallurgy, the food industry, IT and telecommunications and the hotel businesses. sk/09:43

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