India Bulgaria Business and Cultural Council

Bulgaria, in Southeast Europe, borders Romania, Serbia, North Macedonia, Greece, and Turkey. Known for its diverse landscape, it boasts mountains, Black Sea coastline, and cultural heritage sites. The capital is Sofia, with Bulgarian as the official language.

Ambassador and Consul General

Global India Business Forum presented honorary membership to Mr. ILIYA DEKOV, Minister Plenipotentiary, Head of Trade and Economic Affairs, Embassy of the Republic of Bulgaria in India. The GIBF team had a fruitful discussion with the minister to collaborate with Bulgaria to explore different business opportunities and trade between the two countries. The Founder and Global President of GIBF, Dr. Jitendra Joshi and Co-Founder and Director - Global Operations, Deepali Gadkari attended the meeting.

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Refined Petroleum, Petroleum Gas, Refined Copper, Wheat, Electricity

Crude Petroleum, Petroleum gas, Copper ore, Cars, Packaged Medicaments

ABOUT Bulgaria

ABOUT BULGARIA

Bulgaria is a Balkan nation with diverse terrain encompassing Black Sea coastline, a mountainous interior and rivers, including the Danube. At the foot of domed Vitosha mountain is its capital city, Sofia. The official language of Bulgaria is Bulgarian while the currency is Bulgarian Lev. According to 2022 the population was 64.7 lakhs. Bulgaria proclaimed its independence from the Ottoman Empire on September 22, 1908 in the old capital of Tarnovo. Bulgaria is a member of the European Union (EU), the Schengen Area, NATO, and the Council of Europe, and has strategic access to the Turkish Straits and key land routes to Europe and the Middle East.

BUSINESS OPPORTUNITIES in Bulgaria

BUSINESS OPPORTUNITIES IN Bulgaria

Bulgaria is one of the most business-friendly and cost-effective country for foreign investments in comparison to other member states of the European Union. The country’s tax system offers the lowest corporate tax in the EU. It has a qualified and cost-effective workforce, affordable office rents, and low production and transport costs. The cost of doing business is very competitive for foreign investors.

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Exports and Imports in Bulgaria

Overview In 2022, Bulgaria was the number 70 economy in the world in terms of GDP (current US$), the number 60 in total exports, the number 58 in total imports, the number 64 economy in terms of GDP per capita (current US$) and the number 38 most complex economy according to the Economic Complexity Index (ECI) .

Top Exports of Bulgaria

The top exports of Bulgaria are Refined Petroleum ($3.55B), Petroleum Gas ($1.81B), Refined Copper ($1.73B), Wheat ($1.72B), and Electricity ($1.62B), exporting mostly to Germany ($6.91B), Romania ($6.55B), Italy ($3.85B), Turkey ($2.95B), and Greece ($2.93B).

Top Imports of Bulgaria

The top imports of Bulgaria are Crude Petroleum ($3.61B), Petroleum Gas ($3.56B), Copper Ore ($2.3B), Cars ($1.56B), and Packaged Medicaments ($1.36B), importing mostly from Germany ($5.63B), Russia ($5.55B), Turkey ($4.88B), Romania ($3.9B), and Greece ($3.62B).

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