Bulgarian Furniture In Belgium Essay

2524 words - 10 pages

Bulgarian Furniture in Belgium


By selecting a Bulgarian product of your choice discuss the issues and implementations of exporting it in an EU country of your choice. (Areas to consider likely barriers of entry, product, price issues, etc.)

ABSTRACT

There are not so many Bulgarian products that might easily penetrate the EU Market even with a good marketing strategy. One of those, which I think might be successful is the Bulgarian furniture, as Bulgaria has traditions in this branch of the industry, and there are at least 10 factories which have been privatized and are already exporting their production to overseas markets like USA, Canada and the Middle East.
On the other hand, because of different factors, which I will briefly mention below, it is considered that if a product can be successfully launched in Belgium, it has a good chance of being successful in other EU countries.
For these two reasons I have chosen to present a brief overview of the Belgium market for office furniture as a potential market for Bulgarian firms willing to specialize in the production of office furniture for exports to the European Union.

COUNTRY OVERVIEW

Belgium is one of the smallest countries in the European Union (EU) but its small size does not reflect its relative importance in commercial or economic terms. With only 10 million inhabitants, Belgium accounts for some 3.2% of international trade, and it is the sixth largest importer in the EU. Situated between Germany and France, Belgium is located in one of the world's most industrialized and most competitive regions.
Belgium's imports of goods and services is approximately 74% and exports - 77% of its GDP, the highest figures in the EU apart from Luxembourg, with which it has a customs and economic union. Belgium is specialized in the areas of medical technology, advanced industrial materials, biotechnology, food processing, chemicals, pharmaceuticals, aerospace.
Furthermore, Belgium is one of the countries that is benefitting the most from the European integration process and the establishment of the single European market. Brussels is the capital of the "new Europe", and the single European market gives Belgium the opportunity to use all the comparative advantages that it draws from its geographic location. Besides, Belgium is the European headquarters for multinational corporations and such organizations as NATO, SHAPE, and the WEU. These are just a few of the reasons why Belgium is one of the most relevant markets in the EU for foreign companies wishing to enter and position themselves in the EU market.
From a cultural point of view, Belgium is definitely the most important test market in the European Union, in part because of its cultural duality, enabling the exporter to experience both the German and French ways of doing business. This sales and marketing experience prove invaluable for future exporting to the rest of the EU. It is considered that if a product can...

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