Trade and Business in Bulgaria. Sofia

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

1. To analyse the Bulgarian Economy and Foreign Trade (Import, Export, FDI)
2. To know the business opportunities in the Bulgarian Market
3. To analyse the Bulgarian trade relations with the country of the student
4. To know the Bulgarian free trade agreements as a member of the European Union
5. To develop a business plan for the Bulgarian Market

1. Transport Corridor Europe-Caucasus-Asia (TRACECA)
2. International North-South Transport Corridor (India-Russia) (Observer country)
3. Pan-European Corridor IX (Finland-Russia-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. European Union
   1. As a member of the European Union, Bulgaria is a beneficiary of the EU Free trade agreements: Egypt, Jordan, Lebanon, Ukraine, Moldova, Georgia...
   2. European Single Market
   3. EU Services Directive
   4. European Digital Single Market
   5. European Customs Union
3. Organisation of the Black Sea Economic Cooperation (BSEC)
4. Central European Initiative (CEI)
5. Free Trade Agreement between Bulgaria and Bosnia and Herzegovina
6. Regional Cooperation Council (RCC)

Trade Facilitation Programs

1. World Trade Organisation (WTO)
   1. WTO General Agreement on Trade in Services (GATS)
   2. WTO Agreement on the Application of Sanitary and Phytosanitary Measures (SPS)
   3. WTO Agreement on Technical Barriers to Trade (TBT)
   4. WTO Agreement on Preshipment Inspection (PSI)
   5. WTO Agreement on Safeguards (SG)
   6. WTO Trade Facilitation Agreement (TFA)
2. World Customs Organisation (WCO)
   1. Revised Kyoto Convention (RKC)
3. Convention concerning International Carriage by Rail (COTIF)
4. International Bureau of Containers and Intermodal Transport (BIC)
5. International Civil Aviation Organisation (ICAO, Chicago Convention)
6. International Maritime Organisation (IMO)
   1. International Convention for Safe Containers (CSC)
   2. Convention Relating to Temporary Admission (Istanbul Convention)
7. Customs Convention on Containers (CCC, UN)
8. International Convention on the Harmonization of Frontier Controls of Goods (UNECE)
9. Convention concerning International Carriage by Rail (COTIF)
10. Convention on the Contract for the International Carriage of Goods by Road (CMR, UN)
11. International Road Transport Union (IRU)
    1. TIR Convention
    2. Guidelines on Safe Load Securing for Road Transport
12. Uniform Rules concerning the Contract of International Carriage of Goods by Rail (CIM, CIT)
13. Organisation for Cooperation between Railways (OSJD)
14. International Chamber of Commerce (ICC)

European Trade and Economic Organisations

1. European Union
   1. European Central Bank
   2. European Investment Bank (EIB)
   3. European Bank for Reconstruction and Development
   4. EU-CELAC Summit
2. Economic Commission for Europe (UNECE)
3. Organisation for Security and Cooperation in Europe (OSCE)
4. Group of States of the European Council Convention against Corruption (GRECO)

Global Organisations of Bulgaria

1. OECD anti-corruption measures
2. United Nations (UN)
   1. Conference on Trade and Development (UNCTAD)
   2. International Trade Centre (INTRACEN)
   3. Commission on International Trade Law (UNCITRAL)
   4. World Intellectual Property Organisation (WIPO)
3. World Bank (WB)
4. World Trade Organisation (WTO)
5. International Monetary Fund (IMF)

The Republic of Bulgaria (Europe)

1. Capital of Bulgaria: Sofia
2. Official Language: Bulgarian
3. Bulgarian Area: 110,879 square kilometres
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 Civilisation (European Economic Area)

Economy of Bulgaria.

1. The Republic of Bulgaria is a free-market economy, and a median-upper income economy (World Bank)
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 European Union 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 (1995-2022)
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