Minister of Economy and Industry Bogdan Bogdanov discussed with the economic ministers of Estonia, Kazakhstan and the Socialist Republic of Vietnam the opportunities for deepening cooperation in specific sectors, expanding trade relations and investment during the 13th Ministerial Conference of the World Trade Organization (WTO), which is being held in Abu Dhabi.
Specific periods for holding Intergovernmental Commissions, business forums and new opportunities for Bulgarian business were discussed with the Minister of Trade and Integration of the Republic of Kazakhstan Mr. Arman Shakkaliev and the Minister of Industry and Trade of the Socialist Republic of Vietnam Mr. Nguyen Hong Dien.
Agriculture, automotive and the mining sector were considered as the main sectors for cooperation and expansion of economic ties with Kazakhstan.
‘We propose after holding a joint commission in May this year our countries to come up with a protocol and Memorandum of Cooperation in specific areas, which will strengthen bilateral relations between the countries,’ Bogdanov stressed during the meeting. The economy minister said that Bulgaria could become a gateway to Europe for the Asian countries. ‘The potential of our region is huge. We currently have infrastructure projects that will expand the capacity of our ports and enable regional connectivity that will open up new opportunities for cooperation,’ he said. They also discussed the preparation of a list of commodities that countries have the potential to trade with each other.
With the Minister of Industry and Trade of the Socialist Republic of Vietnam, Bogdanov talked about the opportunities for expanding friendship and cooperation, which could be turned into an ongoing dialogue on trade and investment between the two countries. Key sectors that his Vietnamese counterpart, Mr Nguyen Hong Dien, outlined as important were agriculture, pharmaceuticals, electronics and electrical engineering, digitalisation and critical components for the automotive sector.
‘Bulgaria is an attractive country for foreign investments, we offer very good conditions for positioning companies in the industrial zones in Bulgaria. We started as an outsourcing destination 10 years ago, and have now become a country that creates global innovation and is a magnet for engineers and experts who create high value-added technologies. Bulgaria remains competitive despite the difficult times in Europe. We have very wide opportunities to expand our economic ties,’ Bogdanov stressed.
The two ministers discussed the creation of a list of priority areas ahead of the upcoming joint commission, as well as the organization of side events during its holding in Sofia, such as a business forum for companies from both countries and meetings with other ministries.
During the meeting with the Deputy Minister of Economy and Development of Estonia, Ms Marijn Ratnik, the topic of the war in Ukraine, the problems with humanitarian supplies and the delays at the borders was raised. ‘Support for Ukraine is extremely important for the Bulgarian government. We will continue to help our Ukrainian friends with everything we can,’ Bogdanov told our European partners. They discussed opportunities for cooperation in the reconstruction and rehabilitation of affected areas in Ukraine, such as bridges, kindergartens, orphanages. Other topics that were raised during the meeting in Abu Dhabi were opportunities to fight corruption, digitalization and implementation of Estonian models in the Bulgarian administration. Minister Bogdanov invited Deputy Minister Ratnik and Estonia to participate as participants in the international exhibition WEBIT, of which Bulgaria is an official partner country and which will be held in Sofia at the end of October this year.