Export Concept Forecasts Positive Trade Balance of 10,000 Million U.S. Dollars by 2013

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Export Concept Forecasts Positive Trade Balance of 10,000 Million U.S. Dollars by 2013

An export policy concept called Vision 2013 of the Economy and Energy Ministry forecasts that by 2013 Bulgaria could achieve a positive trade balance of 10,000 million U.S. dollars, Deputy Economy and Energy Minister Yavor Kouyumdjiev said Monday, presenting the concept.

To do so, Bulgaria should concentrate on the production of goods with high added value. According to the concept, this country needs to identify three to five priority areas and attract there first class export-oriented investors, to improve the business climate and intensify support to business.

An export agency is to be set up. Also, the Invest Bulgaria Agency is to step up its activities abroad.

The marketing approach for supporting exports divides the world in three areas. In the first are countries where Bulgaria will be most actively presented, comprising of countries with whom Bulgaria has a trade surplus.

The concept is to be finalized by June; meanwhile, it is to be coordinated with trade associations.

Data of the Economy and Energy Ministry show that in January-October 2007 Bulgaria increased its exports by 9 per cent, while imports grew by 18 per cent. The trade deficit for the period in question was 5,400 million euros while direct foreign investment exceeded 5,600 million euros.

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