Ajman Chamber & Bulgarian Embassy discuss bilateral economic ties

By Arya M Nair, Official Reporter
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Ajman Chamber_Bulgarian Embassy cooperation
Officials from Ajman Chamber & Embassy of Bulgaria discuss bilateral trade

HE Abdullah Al Muwaji, Chairman of the Ajman Chamber of Commerce and Industry (ACCI), has received H.E. Ivan Jordanov, Ambassador of the Republic of Bulgaria to the UAE, to discuss opportunities for trade and investment cooperation and ways to consolidate bilateral relations and open horizons for cooperation and partnership between business owners and investors from the two countries.

The meeting was attended at the Ajman Chamber’s headquarters, by H.E. Nasser Al Dhafri, Acting Director-General of the Ajman Chamber, and Ms. Jamila Kajour, Director of the Promotion and International Relations Department at the Ajman Chamber.

HE Al Muwaiji welcomed the attendees and praised the ambassador’s visit to the Ajman Chamber, and stressed the importance of the meeting, which is a part of the Ajman Chamber’s plan aimed at developing a renewed global economic relations network that supports expansion opportunities, business development and promote the emirate as an ideal destination for investment.

In addition, the Ajman Chamber is exerting efforts to keep pace with the national economic initiatives in the UAE which aim to develop exports and re-exports, and increase the volume of intra-trade with the countries of the world.

HE Al Muwaiji explained that the Ajman Chamber welcomes the intensification of commercial cooperation with the Republic of Bulgaria, and the creation of a supportive and attractive environment for investors wishing to discover opportunities in Ajman, indicating that the emirate witnessed an increase in the number of Bulgarian investors in 2022, with a growth rate of 12 percent compared to 2021.

The volume of non-oil exports and re-exports from the UAE to Bulgaria amounted to more than $54 million in 2021, which opens broader horizons for developing trade relations and increasing mutual investments between the two countries.

Mr. Nasser Al Dhafri gave an overview of the exhibitions implemented by the Ajman Chamber, the most important of which is the Ajman International Education and Training Exhibition (AETEX), and the opportunities it provides to consolidate educational relations between the two countries. Mr. Al Dhafri also reviewed the opportunities and services provided by the Free Zones Authority in Ajman, and highlighted the momentum of the industrial sector and its diversity in the emirate, including “food and beverage, clothing and textiles, oils and energy derivatives, perfumes, furniture, boats, and other industrial fields.”

HE Ivan Jordanov thanked for the warm reception and praised the comprehensive renaissance of Ajman in all sectors, which supports the strengthening of cooperation and increasing the available opportunities. He gave an overview of the most prominent sectors and opportunities available in Bulgaria, including opportunities in the industrial sector and the IT sector, stressing his country’s welcome to receive trade delegations from Ajman to discover investment opportunities in Bulgaria.

Both parties recommended the importance of coordination to hold meetings and visits in the presence of officials, business owners, and investors from both countries, and the exchange of information and statistical data on imports and exports for both sides, and the need to participate in specialized exhibitions, as the Ajman Chamber is keen to intensify its international participation and access to new foreign markets for the emirate’s products.

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