There are untapped opportunities for joint projects and investments with Lebanon: Bulgarian deputy economy minister
There are many untapped opportunities for joint projects and investments between Bulgarian and Lebanon. That is what Deputy Economy Minister Lyuben Petrov said at the opening of the Bulgarian-Lebanese business forum, the press office of the Ministry of Economy announced.
The event was organised by the Bulgarian Chamber of Commerce and Industry (BCCI) and the Commerce and Agriculture Chamber of Beirut and Mount Lebanon. The forum was attended by 19 Lebanese companies and over 40 Bulgarian companies.
Deputy Minister Petrov underlined that the Lebanese Republic was one of the major trade partners of Bulgaria among Arab countries. He emphasized the excellent conditions offered by Bulgaria as a platform for Lebanese products to the European Union and business with other EU countries. He added that our country was part of the market with 500 million users and has a good communication and transport infrastructure.
The Lebanese delegation was represented by companies in the sectors: construction and construction machinery, real estate, food industry and trade organisations, financial and investment brokerage, consulting services, pharmaceuticals, cosmetics, IT and software development, textiles, tourism, equipment and other.
Bulgarian business circles attach great importance to Lebanon in the field of trade, investment, engineering, and tourism.
The two countries confirmed the willingness to develop cooperation in the field of outsourcing and ICT where Bulgaria has considerable achievements, experience and potential.
The Lebanese officials pointed out the possibilities of Lebanon to be used as a gateway to the markets of the Gulf countries, Africa, as well as in terms of construction and repair activities in Syria.
Earlier, Deputy Minister Petrov held a meeting with Dr. Nabil Fahed, Vice President of Commerce and Industry and Agriculture Chamber of Beirut and Mount Lebanon.
The two officials jointly welcomed the recent establishment of the Lebanon-Bulgarian and Bulgarian-Lebanese business advice and the upcoming signing of a Memorandum of Understanding between the Bulgarian Chamber of Commerce and the Federation of Commerce and Industry and the Agricultural Chamber in Lebanon, which aims to help businesses of both countries.
The trend in the development of trade and economic relations with Lebanon is generally positive. In 2015, trade turnover between Bulgaria and Lebanon amounted to USD 124.5 million, of which USD 94.6 million exports and USD 29.9 million imports.