Hapag-Lloyd opens offices in Bulgaria

The company chose to establish a direct physical presence in Bulgaria due to the country's strategic location, strong gross domestic product (GDP) growth projected for 2023 and 2024 as well as thriving energy, commodities and agricultural sectors, Hapag-Lloyd said in a press release last week. The offices, opened on Friday, will employ 21 staff.

"Bulgaria is an attractive growth market for us with two major ports and good hinterland connections by road and rail," Juan Pablo Richards, Hapag-Lloyd senior managing director for South Europe, said.

Apart from energy, Bulgaria has strong mining, metallurgy, engineering, agriculture and tourism sectors, exporting refined copper, seeds, food additives, medical equipment, tobacco, machinery, copper and zinc. Major imports include machinery and appliances, solar equipment, bicycles and construction materials, according to the global liner shipping company.

Hapag-Lloyd already operates three weekly calls, connecting the Bulgarian ports of Burgas and Varna to key locations in the Middle East, the U.S., Europe and Asia. Additionally, the company covers Central and Eastern European countries by truck and train from Bulgaria via the pan-European Rhine-Danube corridor.

Last month, the European Commission improved its earlier forecast for Bulgaria's real economy, expecting it to expand by 2% in 2023.