The Bulgarian government has decided to send a new economic attaché to Israel, 18 months after cutting the position, along with 14 other attaches at embassies around the world, said Israel-Bulgaria Chamber of Commerce president Nir Baruch. Israel is the only country that is getting a new economic attaché.
The new economic attaché will join the Bulgarian Embassy staff under the new Ambassador, Petko Dimitrov.
Bulgaria's Ministry of the Economy said bilateral trade with Israel reached $98.9 million in 2004, up from $58 million in 2003. In both years, 35% of this trade comprised Israeli exports to Bulgaria, and 65% was Israeli imports from Bulgaria.
Baruch said bilateral trade ought to be balanced, by helping Israeli companies participate in Bulgarian infrastructure tenders for roads, communications, and energy, as well as in pharmaceuticals.
Another goal is to help Israeli companies participate in deals in Bulgaria's flourishing real estate market. Baruch said that Bulgaria's construction and land industries had grown significantly since mid-2003, as Bulgaria prepares to become a full member of the EU.
15 Israeli construction companies currently operate in Bulgaria, and Israel is the third largest investor in this industry in the country, after Germany and Austria, accounting for a 10% of Israeli-Bulgarian trade. Israeli contractors in Bulgaria include Ashtrom, Mordechai Aviv Building Industries (TASE: AVIV).
Published by Globes [online], Israel business news - www.globes.co.il - on April 27, 2005