Deputy Prime Minister Hristo Alexiev: We have a 200% growth in economic exchange with the Republic of South Africa

The economic exchange between Bulgaria and the Republic of South Africa has doubled in 2022. This was said by the Deputy Prime Minister and Minister of Transport and Communications Hristo Alexiev at the signing of an agreement between the Chambers of Commerce and Industry of Bulgaria and the Republic of Bulgaria, which took place within the framework of a business forum with the participation of over 30 Bulgarian and 70 South African companies.

Deputy Prime Minister Alexiev is part of an official delegation led by President Rumen Radev to the Republic of South Africa.

"Bulgaria accepts the Republic of South Africa as an entry point for the economy of the rest of the continent. The cooperation with RUA is key because of the strategic position. 200% growth opens up new opportunities. Our economies, transport, tourism and trade, have great potential and it is important that both countries have the will and resources to develop it", added Hristo Alexiev during the ceremony.

The Deputy Prime Minister presented the automotive sector in Bulgaria, which has an 11% share in the Gross Domestic Product. He assured that companies from Bulgaria have a strong interest in joint production with partners from South Africa.

The Deputy Minister of Innovation and Growth Stefan Savov stated during the business forum that South Africa is among the most developed countries in Africa and is in the TOP 20 of the largest economies in the world. "The agreement that the EU and South Africa have already concluded is a basis for deepening our cooperation and achieving common interests in the region," he added.

During the talks, it became clear that the two countries see opportunities for close cooperation in the automotive sector and the production of car parts and food, trade and engineering, MTS also reported. Savov especially emphasized the high technology segment, which, together with the automotive segment, is developing most intensively in our country.

The members of the delegation paid tribute to those who died in the struggle for freedom in South Africa and visited an exhibition dedicated to supporting Bulgaria in the struggle of the Republic of South Africa against apartheid.