In 2024, trade between Bulgaria and Kazakhstan grew four times
The Minister of Economy and Industry, Peter Dilov, and the Ambassador of Kazakhstan in Bulgaria, H.E. Viktor Temirbayev, discussed the opportunities for improving cooperation in the fields of trade and investment between Bulgaria and Kazakhstan.
During the meeting, it was noted that the trade exchange between Bulgaria and Kazakhstan quadrupled in 2024.
The two parties agreed that there is considerable untapped potential in trade and economic relations. Minister Dilov and Ambassador Temirbayev noted that bilateral cooperation could be expanded in areas such as improving transit and transport capabilities, agriculture, energy and green technologies, critical raw materials, pharmaceutical products, and more.
Minister Dilov noted that there are real opportunities to boost mutual trade and strengthen economic cooperation between the two countries. “We believe that Bulgaria has the potential to increase its exports to Kazakhstan for a range of goods,” Minister Dilov underlined. He suggested that more joint initiatives should be undertaken, involving representatives from both the business sector and institutions of both nations.
Ambassador Temirbayev described Bulgaria as a key strategic partner for Kazakhstan in Southeast Europe and stated that forming a regular government will boost bilateral relations. He mentioned that Kazakhstan is among Bulgaria’s top six trading partners outside the EU for 2024. He also believes that the Bulgarian-Kazakhstani Chamber of Commerce and Industry will help strengthen economic ties between the two nations.
The two also talked about setting up a meeting for the bilateral Intergovernmental Commission on Economic Cooperation, which is planned to take place in Bulgaria in the first half of this year. Minister Dilov suggested that the session be paired with a business forum, concentrating on priority sectors of mutual interest that have been agreed upon in advance.
The Minister of Economy and Ambassador Temirbayev agreed that the Fifth Session of the Intergovernmental Commission for Economic Cooperation is a key tool for improving trade, economic, and investment relations between the two countries.