Possibilities for strengthening economic cooperation and stimulating investments between Bulgaria and Turkey were discussed by the Acting Deputy Prime Minister and Minister of Finance Ludmila Petkova and the Ambassador of Turkey to our country Mehmet Sait Uyanak, the Ministry of Finance announced.
Vice Prime Minister Petkova emphasized the expansion and modernization of border checkpoints between the two countries and the provision of infrastructure connectivity, including rail transport with international and European cross-border corridors. The modernization of the three border crossing points with Turkey will be part of a comprehensive national concept for the development of border checkpoints in the country, the main objective of which is to stimulate economic activity and create a more favorable business environment, as well as to facilitate the passage of citizens across borders of the country, the announcement states.
The ambassador of Turkey has expressed readiness for coordination and joint actions that will contribute to the economic development of the two neighboring countries and stimulate bilateral investments, BTA specifies.
At the meeting, it was emphasized that the direct investments of Turkish companies in Bulgaria amount to BGN 2.5 billion. It is also stated that the interest in business development is great and the economic cooperation between the two countries should be strengthened, which will lead to stimulating investment activity and increasing economic growth.
According to data published on the website of the Ministry of Economy and Industry, in the first six months of 2023, Turkey ranks fourth among Bulgaria's trading partners in terms of exports and second in terms of imports, with shares of respectively 6 percent and 8.3 percent of total imports and exports.
According to data from the Bulgarian National Bank, direct investments from Turkey in Bulgaria as of January 1, 2023 amounted to EUR 1.176 billion.
In the first quarter of 2023, an influx of foreign investments from Turkey to Bulgaria was registered, amounting to 31.1 million euros. In the second quarter of this year an influx of Turkish investments in the amount of EUR 0.5 million was registered.
During the period January-June 2023, the number of Turkish tourists who visited our country was 72,196, which represents an increase of 66.9 percent compared to the same period of 2022, when the number of visits amounted to 43,248.