A meeting was held at the Bulgarian Industrial Association (BIA) between H.E. Ms. Tsovinar Hambardzumyan, Ambassador Extraordinary and Plenipotentiary of the Republic of Armenia to Bulgaria, and BIA President Dobri Mitrev.
During the conversation, Dobri Mitrev presented the activities of the Chamber, its structure, and the wide range of sectoral and regional organizations that are members of it. The importance of BIA as a leading employers’ organization and an active partner in the country’s social dialogue and economic policy was emphasized.
Ambassador Hambardzumyan stated that the main mission of her diplomatic work is to strengthen and deepen the economic ties between Armenia and Bulgaria, as well as to expand strategic and trade cooperation between the two countries. She noted that after 2018 bilateral trade declined, but in recent years there have been signs of renewed momentum, exemplified by the increase in the tourist flow from Bulgaria to Armenia. She highlighted that nearly 8,000 Bulgarians visited Armenia for tourism purposes over the past year.
Specific opportunities for deepening economic relations were also discussed. The Armenian side expressed interest in participating in initiatives related to the Green Energy Corridor, as well as in Burgas as a commercial zone, with the potential for Bulgaria to become a major logistics hub for trade flows to and from Armenia.
Emphasis was placed on the rapid development of Armenia’s IT sector, which accounts for approximately 7% of the country’s GDP, as well as on opportunities for partnership in high technologies, artificial intelligence, and innovation. Interest in Bulgarian producers was also noted, including products containing rose oil and cosmetics.
Trade exchange between Armenia and Bulgaria remains relatively modest, with imports from Armenia fluctuating in recent years, while Bulgarian exports maintain a stable positive balance, including machinery, equipment, agricultural machinery, electrical engineering products, cosmetics, and household chemicals. Bulgaria is among Armenia’s significant trading partners within the EU.
At the end of the meeting, readiness was expressed to organize future contacts between businesses from both countries, including through business forums and sectoral partnerships.
Members of the Bulgarian Industrial Association interested in opportunities for trade and economic cooperation with Armenia may contact the BIA Center for Innovation, International Trade, Technological Transformation and Analyses (CIITTA) for additional information and assistance at: ierc2@bia-bg.com.
