ROME, SOFIA, 9 April 2009

The Italian Entrepreneurs in Bulgaria Advisory Committee signed a partnership agreement with Confindustria, which is the biggest Italian business association, uniting more than 126 thousand companies in Italy. Members of the CCIIB are more than 200 Italian companies, which operate in Bulgaria, employing 20 000 people in the country.

The agreement was signed by Confindustria’s president, Ms Emma Marcegaglia and by the president of the CCIIB, Mr Massimo Bartocci in the Head Office of Confindustria in Rome. It laid the foundations for establishing a close partnership between the two business associations.

The agreement concluded between the CCIIB and Confindustria will contribute to a greater popularity of Bulgaria in the Italian economic and financial world and thus, there will be a chance for further strengthening of the trade relations between the two countries.

Italy is one of the biggest trade partners of Bulgaria. Data by the Italian Institute for Foreign Trade (ICE) and the National Statistical Institute shows that in 2008, the trade exchange volume between the two countries was worth more than 3 billion Euros, it increased by 0.4% in comparison to 2007. The export volume amounted to nearly 2 billion Euros, increasing by 5.5% in comparison to 2007, and import was 1.3 billion Euros (-6.6% compared to 2007). In this way, Italy establishes itself as the third in rank trading partner of Bulgaria in terms of trading volumes, it comes in third after Germany and Russia.

In relation to the signing of the agreement, the CCIIB delegation was received in Rome by His Excellency Mr. Atanas Mladenov, the Ambassador of Bulgaria to the Republic of Italy.

About Confindustria:

Established in 1910, Confindustria is the major representational organization of the manufacturing and servicing companies in Italy. The role of Confindustria is to represent and defend the best interests of the industry. Up to the present moment, the organization has united 126.590 companies of different size and from various business areas, comprising over 4.77 million employees. In pursuance of its Statutes, Confindustria, in cooperation with the political and economic institutions, with the social and cultural, national and international organizations, aims to contribute to the economic growth and social progress. In view of this purpose, Confindustria represents the needs and supports the proposals of the Italian economic system before the major political and administrative institutions, including the Parliament, the government, the trade unions and other social movements.