BCCI survey on the attitudes of Bulgaria business towards cooperation with foreign partners

Over 76% of Bulgarian companies are interested in economic cooperation with foreign partners. This shows a survey of the Bulgarian Chamber of Commerce and Industry. As a main reason, they cite increasing the exports of manufactured goods. Meanwhile, 36% of companies are looking for a good partner for imports; 28% need a partner for joint investment in Bulgaria, and 12% are looking for contacts to invest abroad.

China is the most preferred destination for business travel, cited by 54% of respondents. Germany remains second most desired destination among the countries included in the survey, and most preferred one within the EU. Next preferred business destinations are Italy, Serbia, Romania, Macedonia and Russia. In comparison to last year’s survey, a growing interest towards Macedonia is observed, explained by the recently ratified Friendship, Neighbourhood and Cooperation Treaty between Bulgaria and Macedonia.

Nearly 40% of those interested in travel abroad have an interest in meeting companies from the machine-building sector, followed by food and beverages sector, textiles and clothing sector, and electronics. The share of services is also significant – around 17% of respondents cite them as motivation for a business trip.

Nearly two-thirds of companies are not fully familiar with the business and trading conditions in the countries with which they wish to establish business relations. BCCI, however, has experience in establishing sustainable business relations and is ready to respond to each request, and has the expertise to share good practices and knowledge about the specifics of the business culture and how to do business in specific countries and regions.

The survey results show that the EU free trade agreements are in the focus of the interest for upcoming business events that BCCI will organize for its members. For now, the Brexit topic remains outside the focus of Bulgarian companies.

More than 80% of businesses that took part in delegations organized by BCCI, assess the results from them as excellent or very goods, including the programmes of the visits, the foreign partners provided, the flights, transfers and hotels.