Currently, Bulgaria's trade with European partners contributes approximately 1.5% to its GDP annually, a figure projected to rise to between 1.6% and 1.7% from 2025 onwards following its Schengen accession.

With the elimination of border controls, crossing times are expected to decrease by an average of 20 minutes, facilitating smoother trade flows.

The delay in joining the eurozone has already resulted in a missed opportunity worth 9.6 billion USD, based on export data from 2023.

In light of these developments, businesses are advised to remain vigilant against risks such as late payments and bad debts, as emphasized by Kamelia Popova, manager of Euler Hermes in Bulgaria.

The anticipated simultaneous accession of Bulgaria and Romania to the Schengen area is expected to drive annual export growth by 10.5%, with goods increasing by 8.5% and services by 12.5%.

The removal of customs controls at the Bulgarian and Romanian borders is forecasted to boost GDP by 0.17%.

Had Bulgaria joined Schengen in 2023, the trade volume would have been at least 4.3 billion USD higher.

Schengen membership is also projected to reduce tariff equivalents by 1.7% for goods and 1.5% for services, further enhancing trade activities for Bulgarian businesses.

Experts predict that eurozone membership would lead to a reduction in tariff equivalents of 1.4% for goods and 3.1% for services, resulting in an annual GDP increase of 0.2%.

Adopting the euro would decrease transaction costs currently faced by businesses, thereby improving overall financial performance.

Bulgarian businesses are suffering significant financial losses due to the delays in joining both the eurozone and the Schengen area, missing out on billions in export potential.