The Libyan Embassy in Bulgaria, in collaboration with the Libyan Chamber of Commerce Council and the Bulgarian Chamber of Commerce and Industry, organised the first Libya-Bulgaria Economic Forum.
The event attracted more than 40 companies from both nations specialising in food industries, pharmaceuticals, medical products, and agricultural machinery.
Bulgarian Minister of Economy and Industry Petko Nikolov highlighted the growing interest in trade cooperation between Libya and Bulgaria. Trade volume between the two countries exceeded $337 million in the first eight months of 2024, marking a significant increase compared to the same period in 2023.
In 2023, trade between Libya and Bulgaria totalled $173.9 million, with Bulgarian exports accounting for $171.8 million. Key Bulgarian exports included petroleum oils, mineral oils, and bituminous substances, while ammonia was a leading Libyan import.
Minister Nikolov also noted the potential for enhanced bilateral cooperation in fields critical to the Bulgarian economy, such as energy, trade, and agriculture.
He emphasised the opportunities for Bulgarian companies to support Libya’s reconstruction efforts through various economic and trade partnerships, including the supply of wheat and animal feed, along with other agricultural products.
