Forbes: Bulgaria in Top 10 for Trade Freedom
The business climate in Bulgaria is generally positive and the Bulgarian government has set the aim of ensuring a transparent environment for foreign companies that operate business activities on the country's territory. According to Forbes magazine, Bulgaria is in the top ten for trade freedom and is doing well in other sectors as well. Our Bulgarian law firm can give you complete information about trade freedom in Bulgaria and about its economy in general.
Bulgaria's trade freedom across borders
Making trade between economies with ease is a very important aspect when doing business. Thus, excessive document requirements, inefficient port operations and burdensome or inadequate customs procedures can all lead to delays for both importers and exporters and to extra costs, suffocating trade potential.
Analysing its time and cost, domestic transport, border compliance, port or border handling, loading and all the other aspects of importing or exporting a shipment of goods, Bulgaria has a position among the top ten economies for trade freedom (in Forbes magazine), while Bloomberg has ranked it as the sixth best country for doing business.
You can contact our lawyers in Bulgaria for more details about Bulgaria's economy and its thriving sectors.
Reforms in Bulgarian economy
A public procurement act is to be adopted in Bulgaria by the end of January 2016 and it is expected to do the following:
- - adopt bond insurance;
- - adopt and put in practice measures against corruption;
- - make various changes in the implementation of EU directives;
- - introduce an e-procurement platform.
Not only in Bulgaria, but around the world, trading across borders has become easier and faster comparing to previous years and governments continue to introduce tools for facilitating trade (single windows, electronic data interchange systems and risk-based inspections). All these changes in the way of doing business help boost companies' international competitiveness and also improve the trading environment.
Bulgaria managed to make trading easier and faster, by introducing online submission of the declaration forms for customs.
For information on Bulgaria's economic situation and other news, you can refer to our Bulgarian attorneys.