Minister Bogdanov: Bulgaria is a major commercial destination for Greek business

Industry / Bulgaria
3E news
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Photo: Ivan Kolovos /, archive

Bulgaria is an important trade partner and one of the main trade destinations for Greek business. This was said by the Minister of Economy and Industry, Bogdan Bogdanov, who opened the Bulgarian Palace at the Thessaloniki Fair. The exhibition, which begins today and will continue until September 17, is being held for the 87th time.

Bogdanov noted that our country is an honorary participant this year, which is an honor for us, and shows the high level of bilateral economic and political relations, as well as the important role that Bulgaria plays in the region.

Without a doubt, Greece and Bulgaria have the potential to become a regional energy hub of essential importance not only for the region, but also for the whole of Europe. We are proud of our partnership on the economic and political front, and this guarantees stability not only in our countries, but also in the region of Southeast Europe. We are partners, neighbors and friends who trust each other, work together and this is a solid foundation on which we can build our future relations, Bogdanov addressed the Greek Minister of Economy and Finance Konstantinos Hadzidakis. The Bulgarian minister also noted that recent years have shown that the infrastructure and economy of Bulgaria and Greece are connected and complement each other. Bogdanov indicated among the main priorities energy connectivity, security and diversification, stressing that the solidarity that Greece showed us - to gain access to its energy system, when natural gas from Russia to our country was stopped in April 2022, will not be forgotten.

At the same time, Bulgaria guarantees the energy security of Greece, providing and maintaining capacity in the gas storage in Chiren. Thanks to all these efforts, last year Bulgaria was able to guarantee the necessary energy resources at one of the best prices in Europe and thus the Bulgarian industrial production in 2022 was the second fastest growing in the EU, Bogdan Bogdanov also said, quoted by BTA.

At the moment, there are more than 18,000 companies with Greek participation in Bulgaria, with the main sectors being banking, trade, real estate, with cumulative investments exceeding 3 billion euros. Only for the last months of this year, Greek investments are in third place among total investments, reaching 300 million euros.

Greece is one of the main investment destinations for our entrepreneurs, as the main sectors we see infrastructure, energy, but also huge potential in sectors such as information and communication technologies, the minister pointed out. According to him, high technologies, innovations and education are highlights of Bulgarian participation. Companies from the infrastructure and energy sectors will also participate.

He noted the participation of the Institute "Insight", working in the field of artificial intelligence, created only a year ago, but the only one of its kind in the region, Telerik Academy - one of the main platforms for digital learning in Bulgaria, BAS, Technical University - Sofia, which bring together scientists and experts working at the world level, etc. The minister told the gathered business representatives that the Bulgarian Investment Agency will present them with various opportunities during the exhibition.

In recent days, our countries suffered from natural disasters and the floods caused by them, noted Minister Bogdanov and expressed his condolences to the victims and the relatives of the dead. I believe that from such difficult situations and moments we can only come out stronger, restoring and building up what was lost and our infrastructure, he pointed out.

The presence of Bulgaria at this forum provides enormous opportunities for cooperation between Bulgarian and Greek businesses. Trade reached record levels – just over 5.9 million euros in 2022. This is an increase of over 30 percent compared to 2021, the minister said.

At the opening, Bogdan Bogdanov announced that the Bulgarian cargo drone company "Dronamix" started its commercial operations and first flights precisely from Greece. He also announced that the company EnduroSat, a world leader in the production of satellite technologies, is creating a constellation of satellites in low orbit, with the aim of creating technologies that can prevent and warn in the event of disasters and accidents.

The Minister of Finance Asen Vasilev noted that many successful companies of ours are presented at the exhibition. He also pointed out that the Bulgarian government works in close cooperation with the Greek government so that business, tourism, and education can develop between the two countries and expressed hope that in the future there will be no physical borders between Bulgaria and Greece, which are good neighbors, the agency also conveyed.



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