Despite the geographical distance, Bulgaria and Mongolia have strong trade and economic ties, with many opportunities for further bilateral cooperation. The Minister of Economy and Industry, Dr. Petko Nikolov, said this during a meeting with Her Excellency Lkhagvasuren Sayanaa, Ambassador Extraordinary and Plenipotentiary of Mongolia to Bulgaria.
They talked about potential areas for cooperation in trade and economic relations between the two countries, such as the mining, food, and light industries, among others.
Dr. Petko Nikolov said that our country will keep supporting the strengthening of relations between the EU and Mongolia. In response, Her Excellency Lkhagvasuren Sayanaa noted Bulgaria’s strategic role in boosting trade between Mongolia and Eastern European countries.
During the meeting, the importance of the Joint Bulgarian-Mongolian Commission for Economic, Trade, and Scientific-Technical Cooperation was highlighted. Dr. Petko Nikolov and Her Excellency Lkhagvasuren Sayanaa pinpointed specific areas and initiatives to pursue within the Commission’s framework. The next session is anticipated to occur early next year, coinciding with the 75th anniversary of diplomatic relations between Bulgaria and Mongolia.
Minister Nikolov noted the licensing agreement between LB Bulgaricum EAD and the Mongolian company Apu Dairy Mongolia for yogurt production in Mongolia as a positive example of growing bilateral trade and economic relations. He also pointed out the successful cooperation between Bulgaria and Mongolia in agriculture, food, and standardization, among other areas.