Doing Business in Bulgaria

The objectives of the subject “International Trade and Business in” Bulgaria” are the following:

1. To analyze the Bulgarian Economy and Global Trade;
2. To know the business opportunities in the Bulgarian Market;
3. To analyze the Bulgarian trade relations with the country of the student;
4. To know the Bulgarian free trade agreements as a member of the EU;
5. To develop a business plan for the Bulgarian Market.

The Subject “Foreign Trade and Business in Bulgaria” belongs to the following Online Programs taught by EENI Global Business School:

Doctorate: European Business, World Trade.

Masters: International Business, Foreign Trade.

Masters and Doctorate in International Business adapted to the Bulgarian Students.

Languages: + Bulgaria Bulgarie Bulgária.

1. Credits of the Subject “International Trade and Business in” Bulgaria”: 1 ;
2. Duration: one week.

1. Europe-Caucasus-Asia Corridor;
2. International North-South Transport Corridor (India-Russia) (Observer country);
3. Pan-European Corridor IX (Finland-Greece);
4. Access to the Trans-Caspian Trade and Transit Corridor (Central Corridor).

Preferential Access and Free Trade Agreements of Bulgaria

1. Bulgaria and the Orthodox Economic Area / European Economic Area;
2. The EU
   1. As a member of the EU, Bulgaria is a beneficiary of the EU Trade Agreements: Egypt, Jordan, Lebanon, Ukraine, Moldova, Georgia...;
   2. European Single Market;
   3. The EU Services Directive;
   4. European Digital Single Market;
   5. European Customs Union.
3. Black Sea Economic Cooperation;
4. Central European Initiative;
5. Free Trade Agreement between Bulgaria and Bosnia and Herzegovina;
6. Regional Cooperation Council.

1. WTO
   1. GATS;
   2. Agreement on the Application of Sanitary Measures;
   3. Agreement on Technical Barriers to Trade;
   4. Agreement on Preshipment Inspection;
   5. Agreement on Safeguards;
   6. Trade Facilitation Agreement.
2. WCO
   1. Kyoto Convention.
3. COTIF Convention (Rail);
4. BIC;
5. Chicago Convention (ICAO);
6. IMO
   1. Convention for Safe Containers;
   2. Istanbul Convention.
7. Customs Convention on Containers;
8. Convention Harmonization of Frontier Controls of Goods;
9. COTIF Convention (Rail);
10. CMR Convention;
11. IRU
    1. TIR Convention;
    2. Guidelines on Safe Load Securing for Road Transport.
12. CIM & CIT Rules (Rail);
13. OSJD;
14. ICC.

1. The EU
   1. ECB;
   2. EIB;
   3. EBRD;
   4. EU-CELAC Summit.
2. UNECE;
3. OSCE;
4. Group of States of the European Council Convention against Corruption.

Global Organizations

1. OECD anti-corruption measures;
2. UN
   1. UNCTAD;
   2. ITC;
   3. UNCITRAL;
   4. WIPO.
3. WB;
4. WTO;
5. IMF.

The Republic of Bulgaria (Europe).

1. Capital of Bulgaria: Sofia;
2. Official Language: Bulgarian;
3. Bulgarian Area: 110,879 km²;
4. Bulgarian Population: 7.3 million people;
5. Type of Government of Bulgaria: Parliamentary Republic;
6. Borders of Bulgaria: Romania, Serbia, Macedonia, Greece and Turkey;
7. Independence of Bulgaria: 1908 (Ottoman Empire), 1991 (Soviet Union).

Religion in Bulgaria: Orthodox Church (Christianity).

Bulgaria belongs to the Orthodox Civilization (European Economic Area).

Economy of Bulgaria.

1. The Republic of Bulgaria is a free-market economy, and a median-upper income economy (WB);
2. Bulgarian GDP (nominal): 51,030 million dollars;
   1. Agriculture: 5%;
   2. Industry: 31%;
   3. Services: 63%.
3. GDP per capita: 12,800 dollars;
4. Bulgarian Currency: Lev;
5. Top raw materials of Bulgaria: Copper (the third European producer), iron, coal, gold, bismuth, zinc;
6. The metallurgical sector is vital for the Bulgarian Economy;
7. Main Bulgarian products: electronic devices, fuels, building materials, car components, weapons;
8. Corruption is very latent in Bulgaria;
9. Bulgaria joined the EU in 2007;
10. Top Bulgarian Companies: BDZ, Bulgarian Air transport, Corecom, Madara, Payner Music, National Television of Bulgaria.

Bulgarian Foreign Trade.

1. Main Bulgarian Exports: footwear, clothes, steel, iron, fuels, and machinery;
2. Top Bulgarian export markets are Germany (12%), Romania, Italy, Turkey, Greece;
3. Main Bulgarian Imports: fuels, raw materials, machinery, metals, chemical products and plastics;
4. Top suppliers of Bulgaria are Russia (17%), Germany, Italy, Romania, Greece.

(c) EENI Global Business School (1995-2023)
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