Germany is Bulgaria’s Most Preferred Destination for Business Trips and Partnerships

Germany is Bulgaria’s most wanted business partner, according to a survey by the Bulgarian Chamber of Commerce and Industry. More than 43% of the companies prefer the country when it comes to business partnerships.

Among the other top wanted business partnership countries are Turkey, Switzerland, Russia and the United Arab Emirates. China is lagging behind in this year’s list due to the trade disputes with the United States, the language barrier and geographical distance. The big leap of Switzerland is worth mentioning. The federal country, which was 20th last year, is the third most preferred business destination for business relationships this year.

In addition, more than 77% of Bulgarian companies are looking for cooperation with foreign partners in order to increase exports; 28% of companies are looking for a partner for import of goods; 44% are looking for a co-investment partner in Bulgaria, and 14% for investments abroad.

The business in the country is mostly looking to establish contacts with companies in the fields of machinery and equipment (43%), services (26%), food and beverage (24%) and construction (19%).

Nearly two-thirds of the companies admit that they do not know well the business and trading conditions in the countries they want to have business relationships with. The opportunities offered by the EU-third country free trade agreements are among the main topics of interest to the business.

The survey by the Bulgarian Chamber of Commerce and Industry is available here.