Webinar: How Bulgarian Based Businesses Can Expand into the U.S. Market in Times of Covid-19

On December 10th, The U.S.-Bulgarian Chamber in America held a webinar on the topic “How Bulgarian based businesses can expand into the U.S. market in times of Covid-19. The event was held with the support and assistance of the Ministry of Economy, the European Center for Transport Policy, and other organizations.

At the beginning of the webinar welcoming remarks were said by Yana Topalova, Deputy Minister of Economy, Liam Silivan, U.S. Embassy in Bulgaria, Daniel Kiryakov, AmCham Bulgaria, Ms. Eliz Nestorov, U.S.-Bulgarian Chamber in America, Ivo Konstantinov, Head of Trade and Commercial Attaché of Bulgaria to the United States and Lyubka Katchakova, Bulgarian Commercial Attaché in Los Angeles.

The main topics included in the event were:
  • Market strategies for successful sales in the USA and the most preferred goods from Bulgaria,
  • Strategies for successful business communication for creating successful business relationships with companies from the USA,
  • Legal features when starting a business in the USA,
  • How Bulgarian SMEs can open a representative office in the USA
  • Shared experience: The path to success of a business founded by Bulgarians in the USA.

The virtual event organized by the US-Bulgarian Chamber attracted great interest among representatives from Bulgarian and American business, and also participants from Switzerland, the Philippines, Turkey, and Serbia.


Highlights

Daniel Kiryakov, American Chamber of Commerce in Bulgaria addressed the audience by mentioning that Bulgaria is part of the biggest global economy – the Transatlantic one, that includes the United States and the European Union. He emphasized the fact that the data transfer between both sides of the Atlantic Ocean is the largest in numbers, and it is a prerequisite for positioning of Bulgarian businesses in the U.S. He thanked the organizers for inviting AmCham Bulgaria to their webinar, thus expressing the willingness of both associations to develop their relationships for the sake of their members.

Tina Weyant, CEO, World Trade Center, Central Pennsylvania shared statistics for Bulgaria:

  • 2019 Imports from the Bulgaria to the US are 84th place, and exports from the US to Bulgaria are 103rd place
  • The import of services from Bulgaria for 2019 is measured at USD 588,359 million, tourism and travel are on the 1st place. The import of goods for the same year is estimated at USD 2,497,531 million as the production equipment is on the 1st place in terms of import of goods.

    Pavel Kolarov, SEO, Trimona, USA presented to the audience his experience – how much effort and how far they went to reach their product – Trimona yogurt in more than 1,200 grocery stores in the United States – from New York to Chicago, LA, Philadelphia, Washington, Miami, San Diego. They get some of the ingredients of yogurt from Bulgaria and the yogurt itself is produced in Pennsylvania. He also stressed that when thinking about entering the American market, you must think with a long-term strategic plan and to plan adequate resources.


    Watch the full webinar here.

    More pictures from the event you can find here.