Tasting of Bulgarian wines will take place at the International Organisation of Vine and Wine in Paris on June 22. The event is aimed at connoisseurs and business representatives from France, Spain and Portugal. France is known as a country where wine consumption is high, but about 58 percent of its market is occupied by imported products, says the head of the Bulgarian Executive Agency on Vine and Wine Krassimir Koev, adding:

“I hope that we will be able to enter the French market with much larger amounts of Bulgarian wine which offers high quality at a relatively low price. The tasting will open the possibility for future negotiations, presentations, and contacts between Bulgarian producers and French traders. All large retail chains, as well as restaurants and hotels will be present at the forum. They will assess Bulgarian wines in terms of their market potential.”

Bulgaria annually exports between 3 and 4 million litres of wine for the French market. In addition to traders and distributors, Krassimir Koev expects interest from producers. In Bulgaria there are three French companies and a French-German one that own vineyards and production facilities and their wine is exported to the European market, he says. Mr. Koev also expects increased interest from foreign investors in the wine sector:

“The combination of climate, vineyards, and relatively cheap labour and low taxes attracts foreign investors to Bulgaria. European subsidies, reaching up to 75 percent, for the creation of vineyards are also very attractive, because in France incentives for the sector are smaller. In addition, the Rural Development OP provides subsidies for the construction of wine-making facilities. This will also allow for the renovation of existing wineries. Currently, 21 new wineries are under construction.”

The idea is to attract capital for the renovation of old and creation of new vineyards on the territory of Bulgaria. Years ago, mainly white grape varieties were planted in Northern Bulgaria, but now there are no restrictions in order to improve competitiveness in the sector.

According to Mr. Koev, Bulgaria is an attractive winemaking destination as foreign investors are not only from the EU. In the forthcoming months a big Chinese investor is expected to enter Bulgaria with an ambitious program that includes acquisition of vineyards in the region of Pazardzhik and Plovdiv by a Bulgarian-Chinese company, as well as buying a wine production plant. This is not the first Chinese investment in the sector. Since 2014, another Chinese investor has been managing nearly a thousand acres of vineyards near the town of Lom.

English: Alexander Markov