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Bulgarian Market Access & Foreign Trade

Bulgarian Market Access & Foreign Trade. Preferential Market Access (1). WTO membership since 1996 European Union Association Agreement EFTA Agreement CEFTA membership Free Trade Area with Turkey Effective Free Trade Agreements with Macedonia, Lithuania, Israel and Estonia

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Bulgarian Market Access & Foreign Trade

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  1. Bulgarian Market Access & Foreign Trade

  2. Preferential Market Access (1) • WTO membership since 1996 • European Union Association Agreement • EFTA Agreement • CEFTA membership • Free Trade Area with Turkey • Effective Free Trade Agreements with Macedonia, Lithuania, Israel and Estonia • Pending ratification of a Free Trade Agreement with Latvia and FR Yugoslavia

  3. Preferential Market Access (2) Free Trade Agreement With: • European Union • EFTA • CEFTA • Macedonia • Turkey • Estonia • Lithuania • Israel

  4. Exports (by Region, %, 1995- 11/2002) Source: National Statistics Institute

  5. Imports (by Region, %, 1995- 11/2002) Source: National Statistics Institute

  6. Exports (by Country, %, 1999-11/2002) Source: National Statistics Institute

  7. Bulgarian Export Growth (%) Source: Bulgarian National Bank

  8. Bulgarian Exports(by Commodity Groups, 2001) Source: National Statistics Institute

  9. Bulgarian Imports(by Commodity Groups, 2001) Source: National Statistics Institute

  10. Bulgaria CEE Countries (2001) Current and Trade Account Deficit/Surplus (% GDP) Source: Governmental Sources and Bulgarian National Bank

  11. Current Account Deficit Largely Covered by FDI (USD m, 1998-2002) Source: Bulgarian National Bank

  12. Foreign Trade Projections Up to 2005 • Improving trade balance • trade deficit to drop from USD1.3m in 2001 to USD0.9 m • Exports will continue to grow, reaching a 46% increase compared to 2001 • Imports will continue to grow, reaching a 26% increase compared to 2001 • Exports/imports ratio will increase to 0.82 (from a current value of 0.74) • No major changes in commodity groups’ relative shares of exports and imports

  13. Trade Forecast - European Union(USD mln) Source: Ministry of Economy

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