The Japanese-Bulgarian Business Association (JBBA) has already been established and operates in Bulgaria with the active support of the Embassy of Japan. The NGO aims to support the development of bilateral economic and trade relations between Japan and Bulgaria. The Association focuses its efforts on uniting and presenting Japanese business in our country, promoting bilateral trade and investment, promoting sound business practices and developing a stable business environment.
In Bulgaria, Japanese companies are convincingly represented in various economic sectors such as automotive, information technology, pharmaceuticals, food, tobacco products, and many other industries. The strong presence of leading Japanese corporations in Bulgaria creates the necessity for Japanese businesses in Bulgaria to have a platform for information exchange and sharing of experience and joint representation before government, non-governmental and business organizations.
JTI Bulgaria, Astellas Pharma, Takeda Bulgaria, SEGA Black Sea, Zen-noh Foods are the founders of the Association. The Members of the Management Board are Vladislav Mihov - General Manager of JTI Bulgaria and Chairman of the Board; Stamen Bankovski - General Manager of Astellas Pharma for Hungary, Bulgaria and Romania and Deputy Chairman of the Management Board; and Todor Kesimov - General Manager, Takeda Bulgaria.
"The establishment of the Japanese-Bulgarian Business Association (JBBA) is a fact that makes me extremely happy. I am convinced that the Association will play an essential role in promoting the business of Japanese companies already present on the Bulgarian market and attracting new ones that will invest and develop in Bulgaria in the future. Supporting the activities of Japanese companies in the country is one of the most critical tasks for the embassy. I sincerely hope that the cooperation with the Japanese-Bulgarian Business Association will be the main driving force for creating new opportunities in the development of economic relations between Japan and Bulgaria ", the Ambassador of Japan to Bulgaria N.P. Hiroshi Narahira affirmed.
The Japanese-Bulgarian Business Association has already concluded partnership agreements with two of the largest universities in Bulgaria - Sofia University "St. Kliment Ohridski" and UNWE. The deals aim to strengthen the link between higher education and real business and provide new opportunities to expand economics, investment, and governance knowledge.
According to official data for 2020, trade with Japan amounts to $225.2 million, increasing by 2.3% over the same period in 2019. Our exports to Japan maintained their levels from the previous year, registering a slight increase of 0.7%. Our imports from Japan also increased by 2.8%. One of the goals of the Association is to help develop these indicators. Furthermore, part of the activities of the Association will be to provide information on the investment climate and the legislative framework and provide support, together with the Embassy of Japan in Bulgaria, to potential Japanese investors in the country.
"Japanese companies, brands and capital have their serious place on the market in Bulgaria. The two countries have established long-term relations, many traditions, contacts and various projects in recent decades. We believe the Association, supported by the embassy, has much to do - to unite Japan-related companies in our country so that we can work for more bilateral trade, a better business environment, more business for the benefit of both societies", Vladislav Mihov, Chairman of the Board of the Japanese-Bulgarian Business Association stated.
"The main goals and efforts of the association aim at promoting the development of a sustainable business environment for Japanese companies in Bulgaria, fruitful cooperation between them and encouraging and supporting the entry of new investments from Japan," according to Deputy Chairman of the Association and the Management Board Stamen Bankovski.
"The Association will support and represent the interests of its members in their relations with Japanese and Bulgarian institutions to increase trade and investment activities between Bulgaria and Japan, as well as economic development and exchange between the two countries," added Todor Kesimov.
The newly established Association is based on long-established traditions - business relations between Japan and Bulgaria which began in 1927 with the exchange of official letters related to merchant ships and the application of the MFN clause. In 1939 the Japanese diplomatic legation was officially opened in Bulgaria. In 1942 Bulgaria opened its diplomatic legation in Japan. With a break of several years, the diplomatic relations between both countries have existed for more than 80 years. In 2019, Japan and Bulgaria celebrated a "Triple Anniversary", the 110th anniversary of the established relations, the 80th anniversary of their diplomatic ties and the 60th anniversary of the resumption of diplomatic relations.
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