The Libyan Embassy in Bulgaria, together with the Council of Libyan Chambers of Commerce and the Bulgarian Chamber of Commerce and Industry, organized a Libyan-Bulgarian Economic Forum.
The Bulgarian Minister of Economy and Industry confirmed during the forum, according to what was reported by the Bulgarian News Agency, that there was a growing interest in mutual cooperation in trade between the two countries.
The Bulgarian Minister revealed that the volume of trade between the two countries reached more than $337 million in the first eight months of this year, which represents a significant increase compared to the same period in 2023.
The forum was attended by more than 40 Bulgarian and Libyan companies in the field of trade in food industries, medicines, medical products and agricultural machinery.
The volume of bilateral trade between Bulgaria and Libya in 2023 amounted to $173.9 million, while the value of Bulgarian exports amounted to $171.8 million. Among the main commodities in Bulgaria's exports to Libya were petroleum and mineral oils, bituminous oils other than crude oil, while ammonia was a leading product in imports.
The Bulgarian Minister of Economy pointed out that there are bilateral opportunities to develop existing capabilities in areas of interest to the Bulgarian economy, such as energy, trade and economic cooperation, supply of bread wheat and animal feed, and other agricultural products, as well as opportunities for Bulgarian companies to participate in the reconstruction of Libya.
The Libyan Embassy in Bulgaria explained that the participants discussed ways to develop economic relations and expand partnerships in various fields, and the opportunities available to Libyan and Bulgarian companies for joint investment and exchange of expertise were reviewed.
