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Hosted Buyers Programme
Published on 22 March 2018
Bulgaria
Burgenland
This is the good practice's implementation level. It can be national, regional or local.
About this good practice
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.
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.
Expert opinion
Though originally implemented by a voluntary non-profit association in Bulgaria, this practice could easily be transferred and could inspire policy-makers elsewhere. Underlying this good practice is a simple and cost-effective idea of hosting foreign investors/potential partners in Bulgaria free of charge – by covering their accommodation, travel costs, entrance fees, transfers etc. Business people who might have a great impact on the development of the local economy are attracted to Bulgaria, thereby increasing the effectiveness and matchmaking potential of the locally organized business events/exhibitions. Instead of organizing outward business delegations to make contacts abroad, thus, investors are attracted to Bulgaria to meet the local SMEs instead. This specific example focuses on the furniture and woodworking sector, but the replication potential of this measure is much wider.
Works at
Interreg Europe Policy Learning Platform
Resources needed
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.
Further information
Website
Good practice owner
You can contact the good practice owner below for more detailed information.
Organisation
Bulgarian Branch Chamber of Woodworking
Austria
Burgenland
Contact
Project coordinator