The Role of the Agricultural Bank
The Agricultural Bank is one of the main institutions that help improve the country’s economy. As explained in the previous chapter, this bank plays a key role in supporting farmers and promoting agricultural growth. By offering loans and financial services to those working in agriculture, the bank helps increase production and strengthens rural development.
The Creation of the Chambers of Commerce
Another very useful institution was established by the law of December 20, 1894. At the suggestion of local merchants, the government decided to create Chambers of Commerce in the most important business centers of the country. These chambers were formed to represent and support traders, manufacturers, and business owners Sofia City Tour.
Today, there are Chambers of Commerce in Sofia, Plovdiv (formerly Philippopolis), Varna, and Ruse (formerly Roustchouk). These cities were chosen because they are key centers for trade and industry.
Relationship with the Ministry of Commerce and Agriculture
The Chambers of Commerce operate under the direct supervision of the Ministry of Commerce and Agriculture. They must keep the Ministry informed about the commercial and industrial situation in their regions. They also give advice on matters related to trade, industry, and economic policy.
In general, their main goal is to promote commerce and to strengthen relations between Bulgarian and foreign merchants. The Chambers act as a consulting body for the Ministry, and government departments must seek their opinion when dealing with trade and industry issues.
Structure and Election of Members
Each Chamber of Commerce is made up of 32 members, who are elected by the majority of traders in the district. All traders over 25 years old, who enjoy full civil rights and pay at least 25 francs in taxes per year, have the right to vote and can be elected as members.
Half of the members leave office every four years, but they may be re-elected. The Chambers meet once a year to approve the annual budget and make decisions on important matters.
The Standing Committee
The work of the Chamber is carried out by a Standing Committee, which includes a President, Vice-President, and Secretary. The Secretary is a paid position, while the President and Vice-President serve voluntarily. The committee is elected every two years and ensures that all Chamber decisions are properly executed.