Promoting exports to alternative markets in and outside Europe, taking advantage of the concluded or prepared EU trade agreements with third countries, strengthening the role of the Trade and Economic Relations Services (TIES) to open up new opportunities, as well as the preparation of financial instruments by the Export Insurance Agency (BAEZ) to support exporters are among the measures to support Bulgarian companies that we are working on in connection with the tariffs introduced for European goods by the US. This was stated by the Minister of Economy and Industry, Petar Dilov, during a hearing at the Committee on Economic Policy and Innovation in the National Assembly, where he answered questions related to the priorities of the Ministry of Economy and Industry for preserving the competitiveness of the Bulgarian economy, in the context of the introduced tariffs on European goods and support for Bulgarian business. The hearing was also attended by Deputy Minister of Economy and Industry Nevena Lazarova.
In response to a question regarding the ministry's policy for dealing with the effects of the introduced tariffs, Minister Dilov indicated that work on assessing the direct and indirect effects had already started in April, in cooperation with the Institute of Economics of the Bulgarian Academy of Sciences.
According to him, the calculated direct effect by the Ministry of Economy and Industry amounts to 468 million euros, and the indirect effect is expected to amount to 158 million euros.
The Minister of Economy also highlighted the importance of the bilateral intergovernmental commissions that the ministry conducts to open up new opportunities for Bulgarian exporters. Minister Dilov pointed out that a number of such have already been held, and defined the commissions as one of the best tools for promoting the trade of Bulgarian goods abroad.
When asked about the prepared joint venture with “Rheinmetall“ Dilov indicated that the negotiations are at an advanced stage. “We will be able to participate in NATO supplies and in the rearmament of partners. Not only will jobs in the defense industry be preserved, but they will also expand“, explained the minister.
He emphasized that a large part of the production is expected to be intended for export to EU and NATO countries. “We will be able to produce something that we have not been able to before”, stressed Dilov.
According to him, active work is being done in the context of the EU rearmament, all projects and contracts being worked on will have an industrial cooperation clause, so that our entire defense industry can benefit and participate in future projects and generate revenue.
He also confirmed the government's commitment to preserving the existing and increasing jobs at VMZ-Sopot with the creation of the joint venture. “Over 70 thousand people currently work in the defense industry in our country, with 5 thousand of them in BM3“, he added.