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« BackStamen Yanev: The perfect moment for upgrading the German-Bulgarian business relationship has come
July 7, 2015
Despite of the difficult economic circumstances in neighboring Greece, now is the perfect moment for strengthening and upgrading the German-Bulgarian business relationship. This was stated by the Executive Director of InvestBulgaria Agency (IBA) Stamen Yanev during a discussion meeting with businessmen, investors and entrepreneurs from the city of Hamburg, which was cooperatively organized by the Ministry of Economy and the incorporated Bulgarian-German Chamber of Commerce.
We are aware of the of the worries and the troubles German business might have with the investment opportunities in Bulgaria, so the Ministry of Economy, along with IBA, works actively to eliminate them, especially considering administrative ease for current and future German investors and entrepreneurs. It is a fact that the majority of German investors find the economic situation in Bulgaria satisfying and a rapid increase of the trading exchange between the two countries is seen, pointed out Stamen Yanev.
He reminded that the trade turnover between Bulgaria and Germany has increased by 6% in 2014, compared to the previous year, and for the first three months of 2015 it has already grown to 13,7%. German investments in Bulgaria take the fifth place by size and for the period of 1996-2014 they account €2, 4 billion.
Data of the first three months of 2015 show more than 3,5 times increased number of foreign investments in Bulgaria, compared to the same period of the previous year. From Germany only they account €4 million in January-February, pointed the Director of IBA.
Regarding the specifics of the relationship with companies and businessmen from the city of Hamburg, Stamen Yanev reminded that the biggest German harbor is considered to be a gate to the world for the German business and the expanding of the contacts and opportunities for cooperation with Hamburg companies in the fields of trade, forwarding and logistics, agriculture, energetics, mechanical engineering and mining for both the light and the heavy industry will open new broad horizons to the Bulgarian business and economy.
