Bilateral trade in 2024 amounted to €2.29 billion, with Bulgarian exports to Hungary registering a growth of over 4%.
The Third Plenary Session of the Joint Commission for Economic Cooperation concluded successfully with the signing of a bilateral protocol, reaffirming the strategic partnership between Bulgaria and Hungary.
The document was signed on the Bulgarian side by the Minister of Economy and Industry, Peter Dilov, and on the Hungarian side, by the Minister of Foreign Affairs and Trade of Hungary, Péter Szijjártó, who led the Hungarian delegation to Bulgaria. Both expressed their countries’ commitment to deepening economic cooperation between Bulgaria and Hungary.
During the session, held in Sofia, a wide range of topics were discussed, including the development of infrastructure projects, support for innovation and sustainable energy solutions, promotion of digital transformation, and improvement of the investment climate.
Minister Dilov emphasised that economic ties between Bulgaria and Hungary are stable but hold potential for even more dynamic development. “The presence of Minister Szijjártó, as well as leading Hungarian companies, is a strong signal of both countries’ commitment to cooperation based on tangible results,” he further noted.
The Minister of Economy highlighted that despite global challenges, bilateral trade between Bulgaria and Hungary remains stable, reaching €2.29 billion in 2024, with Bulgarian exports to Hungary increasing by over 4%.
“These figures reflect not just stability, but a real potential that must be strategically developed – by reducing the trade imbalance and encouraging two-way investments in priority sectors,” Dilov noted.
The Minister of Foreign Affairs and Trade of Hungary, Péter Szijjártó, stated that trade relations are progressing very well and confirmed the success of the economic cooperation between the two countries.
The session also addressed opportunities to deepen collaboration in fields such as mechanical engineering, the automotive industry, green technologies, information and communication technologies, pharmaceuticals, and the food and beverage industry.
Within the framework of the plenary session of the Joint Intergovernmental Commission, Minister Dilov underscored the importance of institutional dialogue as a mechanism for structuring long-term policies. “The Commission is not merely a platform for information exchange – it symbolises trust, strategic partnership, and mutual respect between our two countries,” he declared.
The two ministers also inaugurated the Bulgarian-Hungarian Business Forum, which brought together representatives from over 60 leading companies from both countries. The event was organised by the Bulgarian Chamber of Commerce and Industry.
Following the Commission session, a Memorandum of Understanding and Cooperation in the field of sport was also signed between the Minister of Youth and Sports of the Republic of Bulgaria, Ivan Peshev, and Mr Péter Szijjártó.