Home / The University / Faculties / Faculty of Economics and Business Administration / News / Public Lecture by Dr. Eng. Stefan Tsankov - "Management and Development of Industrial Goods in EU Markets"

   

16.12.2024

 

On December 13, 2024, from 9:00 to 11:00 AM in Room 200 of the Faculty of Economics and Business Administration (FEBA) at Sofia University “St. Kliment Ohridski” a public lecture was held featuring Dr. Eng. Stefan Tsankov. The topic of the lecture "Management and Development of Industrial Goods in EU Markets" sparked significant interest among students, faculty, and business representatives.

Dr. Tsankov shared key insights into the functioning of the highly regulated European Union (EU) market, emphasizing the main challenges and opportunities for Bulgarian manufacturers.

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Key Highlights from the Lecture

  • Regulations and Challenges of Entering the EU Market

Dr. Tsankov explained that industrial goods, such as children's toys and automobiles, are subject to strict regulations and standards that require compliance with procedures like the Declaration of Conformity. He stressed the importance of hiring consultants to ensure proper adherence to these requirements.
"Never sign a Declaration of Conformity if you are unfamiliar with the market and its standards", the speaker cautioned.

  • The Bulgarian Brand and Challenges for Manufacturers

The discussion shifted to the weaknesses of the Bulgarian brand. Dr. Tsankov noted that, unfortunately, the label "Made in Bulgaria" does not offer advantages in European markets. As a result, many manufacturers opt to register companies in other countries or use the more general "Made in EU" label.

  • The Automotive Sector: Bulgarian Parts as an Irreplaceable Element

"Although we are one of the few European countries that do not manufacture cars, there is no European car without Bulgarian parts", the speaker remarked. He emphasized that the automotive industry is one of the most strictly regulated but also holds significant potential for local business development.

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  • The Potential of Emerging Markets

The lecturer highlighted the importance of the Middle East, Africa, and Eastern Europe as promising markets. According to him, Africa, with its rapidly growing population, offers substantial opportunities for business expansion, while restoring relations with Russia could bring significant economic benefits in the future.

  • Demographic Challenges and Economic Growth

Dr. Tsankov expressed the view that Bulgaria has the potential to triple its GDP, but this would require addressing both the birth rate and carefully implementing migration policies.
"In Bulgaria, there is no profession called 'mother' as women are expected to focus solely on building careers. Few women, like Ursula von der Leyen, manage both a successful career and raising seven children. Change starts with us, and it depends on what we do today", he noted.

  • Inspiration for Students

The lecture provided marketing and economics students with a unique opportunity to learn how theoretical knowledge can be applied in practice and to draw inspiration from the experience of an accomplished professional.

The team from the Department of Business Administration extends its gratitude to Dr. Stefan Tsankov for sharing his expertise and for his inspiring participation.