Bulgaria and Hungary to cooperate in the automotive and high-tech sectors

Bulgaria and Hungary to cooperate in the automotive and high-tech sectors

Hungary is an important economic partner of Bulgaria and the two countries have the potential to deepen their cooperation in the automotive industry, infrastructure projects, high-tech companies and start-ups. This was pointed out by the Minister of Economy and Industry Bogdan Bogdanov, who met with the Ambassador of Hungary in Bulgaria H.E. Mr. Miklos Boros.

At the meeting it also became clear that the trade between the two countries reaches nearly EUR 2.5 billion and Hungarian investments in our country amount to EUR 2 billion.

Ambassador Boros stressed that the Hungarian companies operating in Bulgaria are satisfied with the business environment and that two new Hungarian investments in Bulgaria are under implementation. The first is related to electronics production and will be completed next year in Stara Zagora , and the second is for the production of solar batteries in the region of Silistra.

They discussed the possibility of holding a meeting of the bilateral Intergovernmental Commission for Economic Cooperation next year in Bulgaria, which has not been held since 2019.

Minister Bogdanov and the Hungarian Ambassador also discussed the intensification of regional cooperation related to the provision of logistical links.

The two also pointed out the promising cooperation between the industrial parks and the exchange of experience with the Hungarian partners.