Iranian firms visit Bulgaria to explore opportunities for investment in the dairy sector

Written by on November 13, 2017 in Business - Comments Off on Iranian firms visit Bulgaria to explore opportunities for investment in the dairy sector

Representatives of 15 Iranian dairy companies are exploring opportunities for partnership and investment in Bulgaria, the Economy Ministry said on November 13.

Speaking at the opening of a Bulgarian-Iranian business forum in Sofia, deputy economy minister Alexander Manolev said that there were 313 dairy enterprises in Bulgaria, employing a total of 8300 people.

“Milk production is of strategic importance for Bulgaria,” Manolev said, adding that the country has a long tradition in the sector.

Manolev said that consistent efforts are being made to invest in high quality genetic material, farm modernization, milk collection points and dairy processing plants, as well as the promotion of trade, especially exports.

“Bulgarian companies have something to offer in terms of modern equipment and technologies for automation of production and quality control,” he said.

He expressed hope that more Iranian companies would benefit from the benefits of Bulgaria as a business and investment destination and in other sectors of mutual interest.

“For the first half of 2017, the growth in trade between Bulgaria and Iran is over 80 per cent,” Manolev said.

Bulgarian exports amounted to $38.7 million, registering an increase of 38.5 per cent on an annual basis and consisting mainly of chemical fertilizers, passenger cars and jacks.

In turn, imports from Iran recorded a 165 per cent increase to $ 40.1 million in the first six months of 2017, mainly as a result of petroleum oils imported into Bulgaria.

Other Iranian goods sold on the Bulgarian market in this period include polymers, float glass, dates, and grapes.

The Business Forum was organised by the Bulgarian Executive Agency for Promotion of Small and Medium-Sized Enterprises, and representatives of the embassy of Iran in Bulgaria and the Iranian Small and Medium Enterprises Organization.

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