The trade between Bulgaria and Turkey in 2024 amounted to 7.7 billion USD. The goal is for it to exceed 10 billion USD this year. “This is possible to achieve through sectoral cooperation and coordination. The most significant are the logistics and mechanical engineering sectors“, said Selim Sar, vice president and responsible for the international organizational development of the Turkish Association of Independent Industrialists and Businessmen MUSIAD.
MUSIAD has had its representative office in Bulgaria since 2023 – MUSIAD Bulgaria. Its office was officially opened in 2024. Its main office is in Sofia. There are also two more regional ones, in Plovdiv and Kardzhali, respectively.
“We have long wanted to organize a similar event with MUSIAD. Because one of the main priorities between Turkey and Bulgaria is the economy and economic relations. In this context, we wanted to discuss and debate the real needs, expectations and proposed solutions in the business world. The goal is to determine what Bulgarian and Turkish businesses need and, last but not least, to build a bridge between the two countries, so that companies can cooperate better“, said at the beginning of the meeting between representatives of MUSIAD and the Bulgarian media, Dilek Kütyük, advisor at the Communications Directorate at the Embassy of Turkey in Sofia.
MUSIAD was established in 1990 in Istanbul by 12 companies. The organization's main goal was to promote not so much trade within Turkey, but international trade. Today, the organization has over 14,000 members from all over the world. In our southern neighbor, 25% of trade is realized by MUSIAD members. In Turkey, the organization has 85 offices, and outside it - 99, located in 83 countries. In Europe, MUSIAD unites 1,500 companies in 22 countries. It has the strongest presence in Germany, and in the Balkans, the most active is in Albania. In Bulgaria, there are over 70 companies that are members of the organization.
The areas in which MUSIAD is most active are the restaurant and hotel industry. This is followed by military self-defense and construction. The most developed is the field of mechanical engineering. In Bulgaria, the organization is strongest in the food trade, freight forwarding and logistics.
After the pandemic caused by the coronavirus, high inflation has occurred, which neighboring Turkey has had difficulty controlling for the sixth consecutive year. This undoubtedly affects the food trade. Bulgarians, who traditionally flooded Edirne every weekend, located only 19 km. from the border with Bulgaria, have significantly decreased.
"After the coronavirus, we witnessed huge inflation that affected all countries. After all activities literally stopped all over the world, huge expenses were incurred and the losses had to be compensated somehow. Turkey planned to pay compensation to these producers. Unfortunately, the great earthquake in Kahramanmaraş on February 6, 2023, which killed over 50,000 people, changed the plans and the money intended to compensate for business losses was redirected to those in need," said Sar in response to a question from FACTI about the situation with the trade of food products between the two countries after their significant increase in price in our southern neighbor. He recalled that in 2025, inflation managed to fall below 30%, and the state's goal is for it not to exceed 20% in the new year.
"Always on the market, when a high-priced good is sought, its alternative with a lower value begins to be produced in order to compensate for the market demand," says Sar.
Regarding MUSIAD's plans, in 2026 the goal is to finalize the unfinished topics within the current year. Work will also be done to strengthen trade with neighboring countries. This year, EXPO is coming up in Greece and Armenia. And last but not least, the goal is to continue business development.
Preparations for a large business forum organized by MUSIAD in Bulgaria, which is planned to be held in early 2027, are already beginning.