Minister Bogdanov: New markets and cooperation in key sectors are focus of dialogue with the US

Minister Bogdanov: New markets and cooperation in key sectors are focus of dialogue with the US

New markets and cooperation in energy, defence and infrastructure are the focus of the dialogue with the US.

This is what the Minister of Economy and Industry Bogdan Bogdanov, who is part of the delegation of Bulgarian ministers visiting Washington, told BNR:

The purpose of our visit is to have a key dialogue with our very important economic partner. In 2022, we reached record levels of trade between the two countries of over USD 2 billion. The aim is to start talking about strategic issues – space, energy and information technology. On these topics Bulgaria and the US can build new projects of mutual interest’.

Minister Bogdanov pointed out that the automotive industry is one of the main sectors in Bulgaria and in talks with Tesla, a company producing electric cars, ‘the main focus was to position Bulgaria as a strategic location for building critical infrastructure for electric cars.’

Low taxes and cheap labour is not the main incentive we should present to investors. We need to focus on the expertise that can be found in our country. For the first time, we are providing direct financial incentives for investors who create new jobs and invest in human capacity from the end of 2023,’ the Economy Minister said.

Bogdan Bogdanov explained that there is a contract with Lockheed Martin and projects that will be implemented as part of the industrial cooperation – in the line of the delivery of the F-16 fighter jets.

Three of these key projects will be implemented by Avionams, with the Ministry of Economy as principal. The important issue is the capacity of the Bulgarian defence industry. Our partners and NATO take into account the opportunities that can be realized in Bulgaria, including the production of NATO-standard equipment, which will enable the modernization of our factories,’ Minister Bogdanov said.