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Minister Dilov Discusses Deepening of Bilateral Economic Relations with Hungarian National Economy Minister

Minister Dilov Discusses Deepening of Bilateral Economic Relations with Hungarian National Economy Minister

Economic relations with Hungary are developing positively, and there is potential to enhance bilateral cooperation in the areas of trade and investment. This was conveyed by the Minister of Economy and Industry, Peter Dilov, during a meeting with Mr. Márton Nagy, the Minister of National Economy of Hungary, who is visiting Bulgaria. The meeting was held jointly with the Deputy Prime Minister and Minister of Transport and Communications, Grozdan Karadjov, and the Minister of Tourism, Miroslav Borshosh.

Minister Dilov Discusses Deepening of Bilateral Economic Relations with Hungarian National Economy Minister

Minister Dilov noted that Bulgaria and Hungary have a long-standing partnership and mutual respect. He mentioned that our countries enjoy strong economic and trade relations, based on trust and cooperation.

The Minister of Economy stated that trade between Bulgaria and Hungary has consistently grown in recent years, reaching record levels. In 2023, the total trade turnover between the two countries was EUR 2.3 billion, and in just the first eight months of 2024, it has already reached EUR 1.5 billion.

“Our goal is to strengthen the strong relations between Bulgaria and Hungary and to explore new opportunities for cooperation, investment, and economic partnership,” Dilov said. He noted that, as of October 1, 2024, Hungarian investments in Bulgaria total EUR 2.4 billion.

Minister Dilov Discusses Deepening of Bilateral Economic Relations with Hungarian National Economy Minister

The Minister of Economy stated that the country is prepared to host a meeting of the bilateral Intergovernmental Commission for Economic Cooperation in Bulgaria this year, aiming to boost trade and economic relations.

At the official ceremony at the Council of Ministers, the Ministry of Economy and Industry and the Ministry of Transport and Communications of the Republic of Bulgaria signed Memorandums of Understanding with the Ministry of National Economy of Hungary to establish a long-term strategic partnership. Additionally, a Memorandum of Understanding in the field of tourism was signed between the Ministry of Tourism of the Republic of Bulgaria and the Ministry of National Economy of Hungary.

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