The outgoing Ambassador Extraordinary and Plenipotentiary of the Republic of Bulgaria to Nigeria, His Excellency, Yanko Yordanov, has revealed that the trade volume between Bulgaria and Nigeria increased by 70 percent in the previous year while he expressed optimism that it will increase more in the year under review.
The envoy stated this on Sunday at a get-together organised by his friends, Dr Amos Babade, Honourable Bankole Arekemase and Ambassador Ariyo Adebola at the Sentosa Event Centre, National Assembly Quarters, Abuja.
Ambassador Yordanov, in an exclusive interview with Tribune Online, said while the bilateral cooperation between the two countries have been revived in a comprehensive way, he revealed that there has been political dialogue and working visits between Bulgaria and Nigeria adding that more Nigerians are now in his country for education advancements.
Tribune Online reports that during the first five months of 2024, Nigeria and Bulgaria saw a significant boost in bilateral trade with Bulgarian exports to Nigeria increasing by 122% and imports from Nigeria rising by 188%, compared to the same period in 2023.
According to the Observatory of Economic Complexity (OEC), an online data visualisation and distribution platform, which focuses on the geography and dynamics of economic activities, “In 2023, Nigeria exported $6.13M to Bulgaria.
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The main products that Nigeria exported to Bulgaria were cocoa beans ($2.82m), unprocessed synthetic staple fibers ($743K) and wood charcoal ($66,200K). In 2023, Bulgaria exported $18.6M to Nigeria. The main products that Bulgaria exported to Nigeria were Carbonates ($12.2M), Hard Liquor ($772k), and Wine ($650k).”
The Ambassador said, “The most important thing is that we’ve revived the (bilateral) cooperation in a comprehensive way. We’ve had political dialogue at the higher level. We’ve exchanged working visits between both governments.
“In terms of trade and commerce, the annual trade turn out increased by 70 percent just for the previous year. So, we are optimistic that within this year, the trade volume will increase further.
“In terms of education, I’m very glad that we’ve reestablished the Bulgaria-Nigeria Association which is now the pivot in relationship in terms of promoting education in Bulgaria.
“Many more Nigerians are now students in Bulgaria. And at the same time, we provide our assistance in helping Nigeria build more resilient health sector in terms of vaccine development in particular.
“So, in all these aspects, what make us happy is that the relationship is now sustainable, would transcend throughout the years and would be beneficial to both people of Bulgaria and Nigeria and the governments themselves.
“My most memorable moments in Nigeria are actually many. I remember my first day just like yesterday. What I can really remember is Nigerians’ hospitality, Nigerians’ sense of friendship and the way Nigerians love Bulgarians.
“It’s a remarkable thing among other things I experienced. But not just this moment as I said, but a whole lot of them.”
Dr Babade, who described Yordanov as an outstanding diplomat, said he rekindled the fire of Nigeria-Bulgaria partnerships and brought bilateral relationship to a new height as he also blends with Nigeria’s cultural heritage.
To Honourable Arekemase and a former deputy chief of staff to former President Olusegun Obasanjo, Olusola Akanmode, the envoy’s selfless and outstanding service in Nigeria is second to none saying he would be greatly missed as he bids the country farewell after four years of stewardship.
Over the past five years, the exports of Nigeria to Bulgaria have increased at an annualized rate of 17.4% from $2.75 million in 2018 to $6.13 million in 2023.
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