Sectoral meeting between Spanish and Bulgarian companies to promote opportunities for collaboration

The meeting was attended by the President of the CEOE, Antonio Garamendi; PresidentRumen Radev; the Spanish Minister of Industry, Commerce and Tourism, Reyes Maroto; Bulgarian Foreign Minister Teodora Dimitrova Genchovska; the Director General of the Spanish Chamber of Commerce, Inmaculada Riera; the Bulgarian Deputy Minister for Innovation and Growth, Desislava Kantcheva Boneva; the President of TEDAE, Ricardo Martí Fluxá; that of MAFEX, Víctor Ruiz; and the Vice-President of SERNAUTO, Mercedes Pujol, among other officials.

In his welcoming remarks, the President of the CEOE expressed the satisfaction of Spanish businesspeople with the efforts the Bulgarian government is making to encourage public-private partnership and attract private investment, which is “essential for developing industrial and technological projects, such as in the defence sector and land and rail infrastructure, which are so necessary to modernise the country’s economic structure.”

“In these sectors, and in others such as automotive parts, energy and other areas where there are opportunities, we must continue to work closely to better share existing opportunities and facilitate contact between companies in both countries,” added Antonio Garamendi.

The President of the CEOE highlighted the importance and competitiveness of the Spanish defence, railway and automotive parts sectors, as well as its international leadership, and he pointed out the advantages derived from Bulgaria’s strategic location, which makes its territory an essential transit area for the overland traffic of goods and energy between Europe and Asia.

For his part, the Bulgarian President, Rumen Radev, pointed out that the crises that have hit Europe have shown that the EU can only succeed if we encourage more European companies to develop, innovate and produce together. He added that, in the light of the various challenges facing Europe, Bulgarian and Spanish companies have shown they can offer solutions by working together, and by being much more efficient and competitive.

The Minister of Industry, Trade and Tourism, Reyes Maroto, highlighted the fact that “the close relations between Bulgarian and Spanish residents in our country have contributed to boosting not only employment and the Spanish economy, but also the growth of private consumption in the Bulgarian economy.”

“However, economic and trade relations show scope for improvement. The war in Ukraine is posing new challenges for international trade, especially on international markets where Russian and Ukrainian exports represent a significant share,” he said.

In her speech, the Director General of the Spanish Chamber of Commerce, Inmaculada Riera, highlighted Bulgaria’s role in the stability of the Balkan region. “The economic recovery after the COVID-19 pandemic that hit our countries hard is being threatened by the war in Ukraine, which comes on top of the escalating prices of energy, raw materials and supply chain problems, thus creating a great deal of uncertainty. At this point, I would like to highlight the importance of the firm, coordinated action taken by the European Union and our allies in the face of Russian aggression. We must continue to move forward, united in defending the values that have made us strong and which Bulgaria and Spain share.”

She also underlined the business opportunities that country offers for Spanish companies, as well as a legal framework that is attractive for investors. “The Spanish Chamber of Commerce is committed to strengthening collaboration between our institutions to help companies exploit the financing instruments made available to us by the European Union. We want to contribute, with the capillarity of the chamber system, to mobilise a greater number of small and medium-sized Spanish companies to enhance their contacts and alliances with their Bulgarian counterparts. We can and want to help diversify our bilateral trade and investment into new sectors that are technology-intensive and more integrated into global value chains,” he said.

For his part, the President of TEDAE highlighted the great interest Spanish defence companies have in increasing collaboration with Bulgaria. Businesses in the sector offer growth, prosperity and security and contribute greatly to employment generation throughout the value chain. He also stressed the importance of Spain’s strategic autonomy in this sector.

Along the same lines, the MAFEX president pointed out that the railway sector is a key driving force for the economy and our country’s image, and he also highlighted the importance of innovation. Spanish companies are present in more than 90 countries on five continents. Specifically, in Bulgaria in the coming years, multiple projects will be implemented in which Spanish companies can contribute their experience and know-how.

Finally, the Vice-President of SERNAUTO highlighted the stable framework Bulgaria offers for doing business, as well as its excellent strategic position, which will allow Spain to boost its presence in the automotive parts sector. Spanish companies in this sector are notable for their high degree of internationalisation and their investment in R&D, which makes them leaders in technology.