Minister of Economy meets with Akiyoshi Kato, Parliamentary Vice-Minister for Economy, Trade and Industry of Japan
The Minister of Economy and Industry, Mr Peter Dilov, discussed opportunities to strengthen bilateral economic relations with Mr Akiyoshi Kato, Parliamentary Vice-Minister for Economy, Trade and Industry of Japan. Vice-Minister Kato is visiting Bulgaria at the head of a delegation comprising 24 representatives of Japanese companies. Among the delegation are representatives of a Japanese multinational corporation, one of the world’s leading industrial groups, a global manufacturer of electrical and electronic products, and a technological leader focused on innovation
The two officials discussed new opportunities for cooperation between Bulgarian and Japanese companies in key sectors of mutual interest, including the automotive industry, high technology, energy, infrastructure, and others. Deputy Minister of Economy and Industry, Dontcho Barbalov, also took part in the meeting.
“Bulgaria views Japan as a key strategic partner in Asia. Our country is well known in Japan as the land of roses and yoghurt, but I would like it to be recognised also as an attractive destination for business and investment – particularly in high-tech industries, innovation, and information and communication technologies. This will open a new chapter in our bilateral relations,” emphasised Minister Dilov.
He noted that targeted efforts are being made to attract new investors, particularly in industrial manufacturing and high-tech sectors. According to him, the presence of Japanese companies in Bulgaria’s industrial zones would provide a valuable opportunity for stronger visibility and positioning in the European market.
“Bulgaria is establishing itself as an innovation hub in the region and actively encourages high value-added manufacturing,” Minister Dilov added.
During the meeting, it was noted that bilateral trade between Bulgaria and Japan in 2024 exceeded USD 270 million, but there remains significant potential for increasing Bulgarian exports to Japan. “We are placing particular emphasis on increasing the export of higher value-added products, including machinery and machine components,” the Minister of Economy stressed.
“We rely on Japan’s support as a partner, and as a member of the OECD and the G7, in achieving one of our key foreign economic priorities – Bulgaria’s accession to the OECD,” Dilov stated.
Minister Dilov also welcomed participants at the Bulgarian–Japanese bilateral business forum, held under the theme “Infrastructure, Energy, and Digitalisation”, with the participation of over 100 companies from both countries. The event was organised by the Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) in partnership with the Embassy of Japan, Japan’s Ministry of Economy, Trade and Industry, and the Japan External Trade Organization (JETRO).