Armenia’s former ambassador to Bulgaria, Armen Yedigarian, lays a wreath in Varna, Bulgaria, on May 22, 2024, to mark the 100th anniversary of the birth of French-Armenian singer Charles Aznavour (photo courtesy of the Armenian Embassy in Sofia)

Bulgaria, Loyal Ally of Armenia, Forms Bilateral Chamber of Commerce Hoping for Peace Dividend

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SOFIA — Last week’s signing of a long-awaited peace accord between Armenia and Azerbaijan holds out the possibility of a regional economic bonanza — and at least one of Yerevan’s allies is seeing green.

Official government buildings in central Sofia, Bulgaria (photo Larry Luxner)

Historically, culturally and politically, Bulgaria ranks among Armenia’s best friends in Europe. Yet when it comes to business, there isn’t that much to talk about. According to Bulgaria’s Ministry of Economy, total trade between the two in 2024 came to $75.8 million, nearly triple the $25.5 million recorded in 2014. And 97% of that was Bulgarian exports to Armenia.

Levon Hampartzoumian, founder of the Sofia-based Bulgarian-American Chamber of Commerce and Industry

Levon Hampartzoumian would like to change that.

On July 17, three weeks before President Donald Trump’s White House summit bringing together Armenian Prime Minister Nikol Pashinyan and Azerbaijani President Ilham Aliyev, the Sofia businessman formed the Bulgarian-Armenian Chamber of Commerce and Industry.

“This is a brand new thing,” Hampartzoumian said in a phone interview Monday, August 11. “Everybody is expecting that in coming years, the tensions between Azerbaijan, Armenia and Turkey will be subdued, if not disappear. So it’s time to become more pragmatic.”

Hampartzoumian, 71, is currently chairman of the board and CEO of UniCredit Bulbank. For a brief stint in 1999, he was Bulgaria’s minister of economy, and from 1997 to 2010, he served as Canada’s honorary consul in Sofia.

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The board of this newly formed chamber of commerce consists of 15 prominent Bulgarians of Armenian ethnicity, including leaders in transportation, finance, manufacturing and the media.

“We don’t have a clear focus yet, but we’re ready to respond to any request from our members,” said Hampartzoumian. “We will do what any chamber of commerce normally does, such as enhance access to the administration and organize trade missions.”

The two countries already have much in common. Bulgaria, home to 6.7 million people, is a former Soviet satellite and Armenia, with 2.9 million, is a former Soviet republic. Both countries face aging and declining populations.

Bulgarian and Armenian officials gather in Sofia to mark the 9th session of the Bulgarian-Armenian Intergovernmental Commission for Economic and Scientific Technical Cooperation (photo courtesy of the Armenian Embassy in Sofia)

The Armenian presence in Bulgaria dates back to the Byzantine era. The mother of 11th-century Bulgarian tsar Samuil was the daughter of the Armenian king, Ashot II, while Maria, the wife of 10th-century Tsar Peter I, was the granddaughter of Romanos I Lekapenos, a Byzantine emperor of Armenian origin.

The Ottoman Empire conquered both Armenia and Bulgaria, spurring further arrivals of Armenians. By 1898, some 5,300 Armenians lived in the Principality of Bulgaria and Eastern Rumelia — a number that jumped by nearly 20,000 after the Hamidian massacres of the 1890s.

During Bulgaria’s long communist dictatorship, which lasted from 1944 to 1989, most of the country’s ethnic Armenians returned to Armenia, then still a Soviet republic. Emigration was particularly strong between 1962 and 1989, when it was finally stopped. After the USSR itself collapsed, many Armenians sought refuge in Bulgaria.

Estimates of the community’s size today vary wildly, though the 2011 census put the number at  6,552. That would make Armenians the nation’s fifth largest minority, after Russians. The chief communities are in Plovdiv (3,140 in 2011), Varna (2,240), Sofia (1,672) and Burgas (904).

Among prominent Bulgarians of Armenian origin was Sofia-born Steven Derounian (R-NY), a lawmaker represented his Long Island district in the House of Representatives for six terms, from 1953 to 1965, and later served as justice of the New York Supreme Court.

Another is Alice Panikian, Miss Universe Canada 2006, who at 1.85 meters is the tallest national beauty pageant titleholder in Canadian history.

Tsovinar Hambardzumyan, Armenia’s ambassador to Bulgaria

Armenia’s new ambassador to Bulgaria, Tsovinar Hambartsumyan, took up her post in Sofia last year after serving as her country’s top envoy to Italy, with concurrent accreditation to San Marino and Malta. Before being posted to Rome, Hambartsumyan — who’s fluent in English, Italian and Russian — studied Oriental languages at Yerevan State University and held various government jobs within the office of the presidency.

On May 22, 2024, her predecessor, then-Ambassador Armen Yedigarian, joined in a ceremony in Varna to mark the 100th anniversary of the birth of French-Armenian singer Charles Aznavour.

Hampartzoumian himself is the product of an Armenian father and a Bulgarian mother.

“Being at the crossroads for 2,000 years, Bulgaria has always been at the periphery of something, whether it was the Roman Empire, the Ottoman Empire or the Soviet bloc,” he said. “Now it’s on the periphery of the European Union.”

And with war still raging between Russia and Ukraine, Bulgaria, a NATO member, is now a country on the front lines.

“War next door is never good news. But we can turn lemons into lemonade,” he said. “Ukraine has big Bulgarian communities, so Bulgarians naturally feel an affiliation for Ukrainians. The fact is, for so many years, Russia militarily and economically protected Armenia from its predominantly Muslim neighbors. But in the last war, the Russians simply abandoned them.”

The executive added: “This war with Russia is not going to end soon. But in the meantime, it’s boosting the defense industry as well as trade with Ukraine. Certain infrastructure projects will be developed in coming years, in order to strengthen north-south connections. Whether we’re in the beginning of the next hot or cold war, I don’t know.”

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