AmCham Bulgaria: U.S. – Bulgarian Trade and Investments Need Strategic Boost for Sustainable Growth

Bulgaria needs to sustain and increase its trade with the United States on a bilateral and multilateral (European) grounds. Our country needs to redefine its business and investment strategy in partnering with America in various way and sectors, such as energy, healthcare, IT and cyber security, foods, and more. This should be embedded in the present and future policies of any government that seeks sustainable growth, job creation, well-being of its citizens, and the protection of the environment. These were the key take-aways from the opening remarks of Olivier Marquette, AmCham Bulgaria President at the Explore U.S. Conference, that was held today at Sofia Hotel Balkan. The event was jointly organized by American Chamber of Commerce in Bulgaria and the Bulgarian SME Promotion Agency with the support of the SelectUSA Program, the U.S. Embassy in Bulgaria, and EU’s Innovation and Competitiveness Operation Program.

“We all should be aware that trade and investments in either way – in Bulgaria and at the United States – create jobs. For the past quarter century American companies have secured at least 30,000 direct jobs in Bulgaria. Also, AmCham’s new office at Washington D.C., managed by Ivo Konstantinov, is the missing bridge on which U.S. and Bulgarian capital, ideas, people, products, and services can flow and find their market share in both countries,” said Olivier Marquette, AmCham Bulgaria President.
“Thanks to our “U.S. Investments in Bulgaria” Report (2018) we found out that that America is at least sixth largest foreign investor in Bulgaria. It gave strong signal to both governments and businesses across the Atlantic that they should work hand-in-hand to improve further the business and the investment climate, and for Bulgaria to target specific markets and niches in strategic regions for our economy: first this is EU, then – the Three Seas region and The Southeast Europe, to upgrade and build-up the existing ties with America.
To make this a reality, we need to have sustainable business and investment climate in place, as well as we need real rule of law and well-educated and trained citizens in Bulgaria,” he said also.

I’m incredibly excited about the future of the strategic relationship between the United States and Bulgaria, and also very excited about the contribution that our strategic energy partnership is going to make.
Geoffrey Pyatt, Assistant Secretary of the Bureau of Energy Resources,
U.S. Department of State

Official Opening

The Official opening of the Explore U.S. Conference welcomed the remarks of Aleksandar Poulev, Minister of Innovations and Growth, Republic of Bulgaria, Nikola Stoyanov, Minister of Economy and Industry, Republic of Bulgaria, Geoffrey Pyatt, Assistant Secretary of the Bureau of Energy Resources, U.S. Department of State, and Boyko Takov, Executive Director, Bulgarian Small and Medium Enterprises Promotion Agency

AmCham’s Office in D.C.

“I am happy to have the opportunity to serve for the development of Bulgaria-U.S. Trade and investment relationship. By joining the AmCham Bulgaria team and with the establishing our office in Washington, D.C., my colleagues and I will be able to promote Bulgaria before American entrepreneurs, provide professional advice for newcomers to the American market, and to give our stake for the joint sustainable growth as part of the Transatlantic Economy,” said Ivo Konstantinov.

“I firmly believe that the digital economy from trade in services to e-commerce is changing the shape of the bilateral and global economy relationships in our post-Covid world. This predicates the necessity of unimpeded flow of digital context, as free on unrestrained as it is in consumer and industrial goods,” he said also.

Ivo Konstatinov had double roles during the conference – he made in-detail presentation of how to start a business in America, and moderate couple of the business sessions.