The practice aims both to bring foreign investors in Bulgarian companies and to connect members with potential international buyers and partners.
The Bulgarian Branch Chamber of Woodworking and Furniture Industry / BBCWFI / is a voluntary non-profit association whose mission is to protect and represent the interests of its members and the industry. BBCWFI is the only official representative of employers in the Furniture, Woodworking, Manufacturing and supply of equipment and materials for the woodworking and furniture sectors in Bulgaria.
BBCWFI organizes business meetings with Bulgarian and foreign partners within the annual international exhibitions organized in cooperation with BBCWFI Bulgarreklama “TECHNOMEBEL” and “World of Furniture.
The current practice aims to encourage foreign buyers, investors and partners to attend those exhibitions by arranging free trips to and from Sofia (location for the exhibitions), free 3-day hotel accommodations, transfers, free entrance cards, meetings with desired exhibitors for more in detail dealings and a year-round matchmaking assistance.
The main goal is to increase the number of foreign professional visitors and the effectiveness of the exhibitions in order the Bulgarian furniture producers to enlarge their export activities and find new markets.
Beneficieries of the practice are the SMEs operating in the Furniture, Woodworking, Manufacturing and supply of equipment and materials for the woodworking and furniture sectors.
The budget of the GP is 10 000 euro per year. The budget covers travel and accommodation costs of the foreign buyers, investors and partners who attend the sectoral exhibitions.
Evidence of success
The main advantage of the practice is the possibility to internationalize the companies through participation on the national exhibitions and fairs by attracting investors and companies from abroad on a reasonable price. As a possitive result could be pointed out that for the last 4 years are attracted more than 150 participants through which are reached 40 countries.
Potential for learning or transfer
The cost effective approach for hosting of foreign investors in Bulgaria which ensures possibilities for much more companies to internationalise their activity.
Please login to see the expert opinion of this good practice.