AN ALTERNATIVE APPROACH Aleksandar Medjedovic Latest Developments and Opportunities in Trade and Investments between Bulgaria and Serbia AN ALTERNATIVE APPROACH Aleksandar Medjedovic Sofia, Bulgaria November 14th 2013

Bulgaria – Serbia Relations Exports from Bulgaria Serbia in 2009: 371,7 Million EUR in 2010: 549,9 Million EUR in 2011: 478,4 Million EUR in 2012: 442,4 Million EUR in 2013 (August): 197,5 Million EUR Products: Non-ferrous metals Sugar, sugar products and honey Plastics Iron and steel Exports from Serbia Bulgaria in 2009: 146,5 Million EUR in 2010: 208,9 Million EUR in 2011: 261,1 Million EUR in 2012: 260,9 Million EUR in 2013 (august): 132,2 Million EUR Products: Metallic and Ferrous Materials Petroleum and petroleum products Electric current Plastics Non-metallic minerals

Bulgaria – Serbia Relations FDI stock from Bulgaria Serbia 20.9 Million EUR In 2002-2012 timeframe FDI stock from Serbia Bulgaria 55.3 Million EUR In 2002-2012 timeframe Period 2010 2011 2012 Bulgaria; Neither seasonally nor working day adjusted (Millions) -6,4 53,8 35,9 fdi Period 2010 2011 2012 Annual; Bulgaria; Serbia; Financial account, Direct investment abroad; Neither seasonally nor working day adjusted; All currencies; Euro; Net transactions; TOTAL; TOTAL (Millions) 7,9 10,0 -35,0

An alternative approach: BELGRADE – SOFIA – ANKARA ? 5/18/2019

The Power of “THIRD MARKETS” France Switzerland Austria Germany Czech Rep. Poland Slovenia Croatia Hungary Ukraine Moldova Bosnia-H. Montenegro Albania Greece Bulgaria Turkey Georgia Russia Armenia Azerbaijan Kazakhstan Usbekistan Turkmenistan Kyrgyzstan Tajikistan Afghanistan Pakistan India Iran Iraq Syria Lebanon Israel Cyprus Jordan Saudi Arabia UAE Egypt Libya Tunisia Algeria Belarus Romania Serbia Macedonia Italy Slovakia 3 hours 1 hour 2 hours 5/18/2019 5

Turkey – Interesting Facts & Figures: A population of 75 million 65 % of those are younger than 35 years of age ! 15th largest economy in the world and 5th largest economy compared with the EU in 2012 One of the fastest growing economy in the world Booming economy; more than tripling its GDP, reaching USD 772 billion in 2011, up from USD 231 billion in 2002 Stable economic growth with an average annual real GDP growth rate of 5.2 percent over the last 10 years

The Turkish Economy: facts and figures Foreign Trade in Turkey Import and Export Figures from 2008 - 2012

Turkey –a huge market

Bulgaria – Turkey Relations Exports from Bulgaria Turkey in 2011: 1,87 Bn EUR in 2012: 2,06 Bn EUR Products: Petroleum and petroleum products Nonferrous metals Metallic and Ferrous Materials Oil seeds and oleaginous fruit Electric current Exports from Turkey Bulgaria in 2011: 1,27 Bn EUR in 2012: 1,20 Bn EUR Products: Textile Non-ferrous metals Electrical machinery and apparatus Vegetables and fruits Iron and steel

Serbia – Turkey Relations Exports from Serbia Turkey in 2011: 148,1 Million EUR in 2012: 153,3 Million EUR Products: Petroleum and petroleum products Iron and steel Metallic and Ferrous Materials Rubber manufactures Paper, paperboards and articles of paper pulp Exports from Turkey Serbia in 2011: 264,7 Million EUR in 2012: 284,9 Million EUR Products: Textile Vegetables and fruits Electrical machinery, apparatus and appliances Road vehicles Miscellaneous manufactured articles

The Turkish Economy: facts and figures Top 5 countries in Export from Turkey (2012 )

The Turkish Economy: facts and figures Top 5 countries in Import to Turkey (2012)

Bulgaria – Turkey Relations FDI stock from Bulgaria Turkey 20.9 Million EUR In 2002-2012 timeframe FDI stock from Turkey Bulgaria 55.3 Million EUR In 2002-2012 timeframe fdi

Serbia – Turkey Relations FDI stock from Serbia Turkey 26.2 Million EUR In 2002-2012 timeframe FDI stock from Turkey Serbia 36.6 Million EUR In 2002-2012 timeframe fdi

FRANKFURT – BELGRADE – SOFIA – ISTANBUL

Conclusion: Combined Power There are few countries who have competitive advangates with each other like Bulgaria and Serbia Bulgaria is the furthereast post of the EU –with road and sea access to a HUGE market reaching as far as India and China Serbia has traditional trade links to all Balkan countries, plus a FTA with Russia and other ex-Soviet republics Small domestic markets and relatively modest export volumes force both countries to explore new markets Think outside the box and do it together –also in third markets... 5/18/2019