Importing and Exporting in Bulgaria
Importing and Exporting in BulgariaUpdated on Monday 18th April 2016
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Bulgaria is characterised by an emerging market economy and the country is an important exporter of industrial commodities and agricultural and food products. The country’s main export partners are its neighbours and other European countries. Bulgaria is a member of the World Trade Organization and its trade policy is characterised by consistency, liberalized trade and compliance with the applicable international trade rules.
Bulgaria’s geography allows the country to produce numerous agricultural products and foodstuffs. Its mountainous terrain holds various natural resources including coal, copper, lead, zinc, bauxite and timber.
Imports and exports in Bulgaria
The main products exported by Bulgaria are: petroleum and petroleum products, packaged medicaments, chemicals, machinery, wheat and other food products. Bulgaria is an important coal producer in Europe and the country also produces perfumery essential oils, among which lavender and rose oil. The country’s main export partners are: Germany, Italy, Romania, Belgium, Turkey and Greece.
Bulgaria imports mineral products, machinery and equipment, vehicles and equipment, rubber and plastics, textiles and various chemical products. The country’s main import partners are: Russia, Germany, China, Italy, Romania, Greece.
Import and export regulating authorities in Bulgaria
The Bulgarian National Customs Agency deals with issues concerning imports and exports in Bulgaria. The National Customs Agency falls under the supervision of the Bulgaria Minister of Finance and its structure includes the Central Customs Directorate and eleven customs houses located at: the Sofia Airport, in Burgas, Varna, Vidin, Plovdiv, Svilengrad, Svishtov, Stolichna, Ruse and Yougozapadna.
The National Customs Agency handles the legal framework and establishes the customs legislation and other customs issues. As a member of the European Union, Bulgaria has to apply the European directives for general customs rules and international customs cooperation.
Special permits and licenses may be necessary for performing certain trade activities in Bulgaria. Our Bulgarian lawyers can help you with detailed information about the applicable legislation for different types of imported and exported products.
Please contact our law firm in Bulgaria, if you want to know more about the legislation for foreign investments.