V. Gugushev to Money.bg: Bulgarian companies are market leaders in Romania, but infrastructure hinders full potential

The opening of the Honorary Consulate of Romania in Ruse is a historic event for the entire city.

This was shared in the studio of Money.bg by Victor Gugushev, Chairman of the Bulgarian-Romanian Chamber of Commerce (BRCC) and Honorary Consul of Romania in Ruse.

Gugushev explained that the consulate has a fairly broad scope of activity, making it difficult to define the exact duties of an honorary consul.

“We often work reactively, but more and more often proactively,” he commented, adding that their work is related to “organizing business delegations between Bulgaria and Romania, or assisting Romanian citizens who encounter personal or business-related issues.”
The BRCC Chairman also explained the difference between an honorary consul and a career consul, emphasizing that it is significant.

“Consuls are civil servants appointed by the embassy. Honorary consuls, on the other hand, are usually citizens of the host country — prominent public figures with professional backgrounds — who hold a diplomatic status that is not identical to that of a consul,” he clarified.
 
Bulgarian-Romanian Business Relations
“As Chairman of the Bulgarian-Romanian Chamber of Commerce, I have a good overview of the Romanian market,” Gugushev said.
He recalled that Romania is Bulgaria’s second-largest trading partner, while Bulgaria ranks fifth among Romania’s trading partners.

Gugushev added that the economic potential between Bulgaria and Romania has not yet been fully realized, despite the progress already made.

“The potential between the two countries is enormous. However, there is one key issue — connectivity — which still hasn’t been fully resolved. This potential cannot be developed until infrastructure is improved,” he stated firmly, adding:
“No matter how many bridges we have over the Danube, if we cannot reach them quickly and safely, this connection will never be fully functional. This applies both to roads and related infrastructure.”
 
Bulgarian Companies — Leaders in Romania
Members of the Bulgarian-Romanian Chamber of Commerce operate in all sectors of the economy.

“I wouldn’t say there is one leading sector. There are Romanian companies working in Bulgaria and Bulgarian companies working in Romania. The defense industry is strongly represented, as well as transport and logistics — these are areas where businesses are actively seeking opportunities,” Gugushev commented.
He also noted that Bulgarian companies are market leaders in their respective sectors in Romania.

“We have a company with a 90% market share in POS terminal production and another with a 70% market share in heating appliance sales. This shows how strong Bulgarian businesses are and how they are expanding internationally,” explained the Honorary Consul.
He added that the mechanism is simple: companies that are already market leaders in Bulgaria are now taking their first steps abroad, starting with Romania.

“In the opposite direction, however, things are different. Bulgaria is not as attractive for large Romanian businesses, because Romania is a market four to five times larger. When major Romanian companies seek to expand internationally, they tend to look toward Central and Western Europe — Austria, Poland, and other countries with high potential,” the BRCC Chairman added, noting that the Chamber is actively working to strengthen bilateral cooperation.