An unprecedented influx of French entrepreneurs stunned the Bulgarian business, which had never welcomed the heads of more than 100 companies from another country at the same time. In the 145-year history of French-Bulgarian diplomatic relations, this is happening for the first time, noted the chairman of the Board of Directors of the French-Bulgarian Chamber of Commerce and Industry, Stephane Delaye.
Last night, the salons of the French Embassy in Sofia could barely accommodate the guests who came from the department of Ille-et-Vilaine in the Brittany region of Western France. Led by the chairman of the Management Board of the regional entrepreneurial organization MEDEF 35 Eric Shalan Belval, today they are participating in a Bulgarian-French business forum, and then they are going on a several-day tour of the country to familiarize themselves with its production possibilities. Their attention is focused on Sofia and Plovdiv, where good business partnerships have already been established. MEDEF is the largest employers’ chamber in France with branches in 99 departments.
Eric Challan Belval said that the theme of the visit is “First – the European economy” and explained that this means the re-industrialization of the European Union. The aspiration is to stop the deindustrialization of the continent by exporting production to China and other Asian countries and to bring business back to European countries. This year, Bulgaria is the focus of the MEDEF 35 survey, and last year it was Denmark. “We are looking for points of stability in an unstable world,” said MEP Marie-Pierre Vedrin, who is a graduate of the University of Rennes, the capital of the Illes-et-Villenes department.
The upcoming inclusion of Bulgaria in the Eurozone, which is planned for January 1, 2025, will stimulate the process of relocalization of French business, answered a question of “Now” Eric Challan Belval. “What looks unstable from the outside is actually different”, he revealed the reason for the hitherto cautious approach of French business towards Bulgaria and for the changed view towards it. The euro will give confidence to entrepreneurs that the two countries stand on the same solid foundation.
Trade between France and Bulgaria reached 2.6 billion euros in 2022, which represents an increase of 22.5 percent compared to 2021, according to a report from BTA in the French Ministry of Economy and Finance.
French imports from Bulgaria amounted to 1.5 billion euros in 2022, which is an increase of 22.6 percent on an annual basis. France was Bulgaria’s sixth largest customer, accounting for 3.3 percent of Bulgarian exports. French exports to Bulgaria amount to 1.2 billion euros in 2022, which represents an increase of 22.4 percent compared to the previous year. According to this criterion, France was the 12th largest supplier to Bulgaria with a market share of 2.3 percent of Bulgarian imports.
According to the French department, France’s trade deficit with Bulgaria is 266.3 million euros in 2022. France mainly imports textiles, clothing, leather and shoes from Bulgaria, and mainly exports transport equipment.
According to BNB data, the total foreign direct investments from France in Bulgaria as of January 1, 2022 amount to EUR 1.028 billion. France has the ambition to enter the three largest investors in our country. It is interesting that Bulgarian companies also play the role of foreign investors in France. The chairman of the Bulgarian Chamber of Commerce Dobri Mitrev announced in response to “Sega” that our investors in France are from the field of veterinary medicine, microelectronics and electrical engineering.
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2023-10-13 01:13:04
#French #business #Bulgaria #withdrawing #China
