Bulgarian companies have walked the long journey to enter and to succeed in the American market. They have managed to beat the competition and they are willing to share knowledge and experience to inspire their followers. This was the main message on behalf of the business that was aired during the Explore USA Conference that was held yesterday, April 9th, 2019, at Intercontinental Sofia. There was presented the SelectUSA Program that helps businesses to enter at the U.S. market.
The conference aimed to present to the Bulgarian companies the unique opportunities that the American market offers. Also, it show-cased various success stories that made their break-through over the Atlantic. Leading experts from AmCham Bulgaria membership shared useful advice in the sphere of taxation, legal aspects, real estate, banking, and visa regimes.
Explore USA Conference is a joint initiative of the Commercial Service of the U.S. Embassy in Bulgaria and The American Chamber of Commerce in Bulgaria. It was being organized in such a format for first time.
“This initiative is an excellent opportunity for growing businesses in the USA not only by AmCham members but also of companies which are external to our organization. The feature that unties them is their boldness and vision for development, which is eminent with the starting of a business in the U.S.,” said during the opening Olivier Marquette, AmCham Bulgaria President. “Such investments and business development show the real impact of the Transatlantic economic and strategic relationships, in which Bulgaria has its significant role,” he said also. “We are confident – and the latest data gives solid proof – that the Bulgarian business is mature enough to seek new paths for business expansion to the biggest market in the world – the U.S. market.”
The event was opened by Emil Karanikolov, Minister of Economy of the Republic of Bulgaria. “Over the past decade in our bilateral trade are evident various positive tendencies, right after the trade balance regain its volumes of precrisis period of 2008-2009. The United States rank among top 20 trade partners of Bulgaria,” pointed out the minister.
“I would like to point out that in 2018 the level of the joint commerce reached USD 561 million which overcomes the record from 2012. For the good result an important role has the sustainable growth which last year market increase of 22%. The U.S. market is among the main export destinations for export of Bulgarian goods from the high-tech spectrum. For example, the USA occupy the top seats in the geographic distribution of the export of hardware components, of integral schemes, and of electric semiconductors with app. 10% of the overall realized sales in external markets,” the minister pointed out the main economic characteristics between Bulgaria and the United States.
“One of our embassy’s highest priorities is strengthening the bonds of friendship between the United States and Bulgaria. I have found that building close business relationships is an excellent way for our nations and our people to grow together,” addressed the audience Justin Friedman, Deputy Chief of Mission. “That is why we devote our energies to encouraging trade between our countries as well as U.S. investment in opportunities in Bulgaria and Bulgarian investment in opportunities in the United States. Working together as equals in business opens the door for economic growth and jobs in both our countries.”
Stories from the various speakers will be uploaded soon.
The presentations and photo gallery are available here.