Italy and Bulgaria have been strategic partners for many years and we are determined to further develop our cooperation with Bulgaria, where we find reliable partners.
The textile industry, the automotive industry and agriculture are the sectors in which there is the greatest exchange.
These two years, in which there has been a problem with the availability of regular prime ministers, have not been good.
This was stated in an interview with BGNES by the President of the Italian Chamber of Commerce in Bulgaria (ICCB), Alessandro Geretto.
With him we talk about the economic cooperation between Bulgaria and Italy, the main sectors in which this partnership is developing, as well as the prospects for Italian investors in our country.
"According to official data, I can say that the sectors in which there is more exchange between the two countries are definitely the textile industry, the automotive industry and agriculture. We are trying to stimulate these sectors more and more to increase our capacity. I see a lot of help from the Bulgarian institutions, so from that point of view I see good progress," said Geretto.
The ICCB President underlined that Italy and Bulgaria have been strategic partners for many years. "Italy is determined to further develop its cooperation with Bulgaria and we are very happy to find reliable partners in the country," he added.
Asked by BGNES about the most prominent examples of successful Italian investments in Bulgaria, Giaretto replied that Miroglio is one of the best examples - from the first investment more than 25 years ago in the textile industry until today.
"It is a big name in terms of capacity, in terms of production and number of employees. And then it invested in other sectors - a large winery, hotels. There are several other investors of smaller size who are incredible professionals and achieving great results in Bulgaria," he said.
According to the Bulgarian Investment Agency, bilateral trade between Bulgaria and Italy will reach 6.5 billion euros in 2022. Italy is in the top 4 countries not only in bilateral trade with Bulgaria, but also in investments. According to preliminary data of the Bulgarian National Bank, the trade will amount to 3.35 billion euros in the first half of 2023. There is Italian capital or Italian participation in over 14 000 Bulgarian companies.
Alessandro Geretto said that he had not heard of "an Italian investor in Bulgaria complaining about the workforce".
"They are satisfied and say that (the workers - ed.) are doing their job, performing their tasks well and are very serious. But unfortunately there is a manpower shortage at the moment, it is difficult for the new manfactory to ensure that it has the skilled manpower it needs, the work environment it needs," Geretto said.
Alessandro Geretto noted that many factors interact and influence the development of relations between Italy and Bulgaria. According to him, the two years without a regular government have not been helpful in this respect.
"I would say that I take it as a very good thing that there is political stability in the country now. Those two years in which there was a problem of having regular prime ministers were not good, and now it is not so," the Chamber president stressed.
"I see that Italy is always trying and willing to support the Italian Embassy, the Italian Institute for Foreign Trade, the Italian Cultural Institute, Confindustria Bulgaria and the Chamber of Commerce. We work as a system and we always try to work as a team, so when we have an unresolved issue, with the institutions, with a ministry, with foreign partners or with local Bulgarian companies, we try to work as a team. I think that's our strength at the moment," continued Geretto.
He noted that Bulgaria is a wonderful country where one can develop and do business.
"I always promote this country so that Italian investors can come here. From me personally and from the Chamber, you have our full support," Alessandro Geretto said in conclusion. / BGNES
