The Executive President of BIA Radosvet Radev met with Angel Angelov, the new Bulgarian Ambassador to the Republic of Macedonia. They discussed the opportunities for activating the Bulgarian-Macedonian economic ties by undertaking mutual commitments for information and partnership.
The direct Bulgarian investments in Macedonia amounted to 165 million Euro, and in the first half of this year the investment flow from Bulgaria to Macedonia was 1.9 million Euro.
Figures for the first half of 2018, compared to the same period in 2017, reported:
- growth in commodity exchange of 5.5%;
- export growth by 6.6%;
- growth in imports by 4.1%;
- trade balance remains positive for Bulgaria and amounted to EUR 45.1 million.
The structure of Bulgarian exports to Macedonia in recent years is similar to the structure of the country’s total exports, dominating goods with a relatively low degree of processing and semi-finished products. In terms of value, exports of electricity, petroleum oils and oils from bituminous minerals, other petroleum products, ferrous metals and cast iron, sunflower, safflower or cottonseye oils and their fractions are the most significant.
In the case of imports from Macedonia to Bulgaria, the share of lead, copper and zinc ores and concentrates is almost the same - almost 50%, flat-rolled ferrous metals, metal and plastic pipes, wires and cables. Macedonian exports, not only to Bulgaria, are mainly from low-grade products - raw materials (non-ferrous metal ores and concentrates - zinc, lead and copper), metallurgical products - rolled products of iron and steel, wine, agricultural products, waste (scrap), building materials.
Perspectives for export to Macedonia are high value added products such as computer components and assemblies, electrical materials and components, power equipment, machinery and equipment for the food and beverage industry (meat processing, dairy, wine), transport (buses, tractors, cars). Electricity and oil products remain stable in terms of exports.