In just the first six months of this year, our trade with Ukraine has reached nearly USD 1 billion, the Minister of Economy said.
As a member of the European Union, Bulgaria must prioritize its support for Ukraine in its recovery, modernization, and integration efforts. The Minister of Economy and Industry, Dr. Petko Nikolov, said this during the opening of a public discussion on Ukraine’s future recovery, titled ReBuild Ukraine. The event was organized by PanEurope Bulgaria in collaboration with the Union of Reserve Officers Atlantic and the Ministry of Economy and Industry.
Minister Nikolov noted that Ukraine is a key and long-term trade partner for our country. Over the years, the relationship between the two nations has developed with trust, good neighborliness, and partnership. This creates a strong basis for strengthening economic ties and fostering successful cooperation in the future. “In recent years, trade between Bulgaria and Ukraine has consistently grown. In 2023, it reached about USD 2 billion, and in the first six months of this year alone, nearly USD 1 billion in trade turnover has already been reported”, he mentioned.
Within the scope of bilateral or multilateral initiatives, our combined efforts aim to achieve effective cooperation and establish security and stability in the Black Sea region, the Minister of Economy said. He noted that the geographical and cultural closeness between the two countries, along with shared Euro-Atlantic values and the presence of the largest Bulgarian community abroad in Ukraine, create a strong basis for enhancing economic connections and encouraging productive collaboration.
Dr. Petko Nikolov said that the Ministry of Economy and Industry will help identify business interests for future involvement in initiatives to revitalize Ukraine’s economy and infrastructure. He pointed out sectors like construction, energy, transport and logistics, agriculture and the food industry, and the pharmaceutical industry as promising areas for economic collaboration.
Doctor Nikolov said after the conflict ends and its devastating consequences are addressed, rebuilding Ukraine will require international solidarity, coordinated efforts, and shared expertise. He added that the defense industry not only plays a crucial role in enhancing security but also has great potential for job creation, economic growth, and technological progress. The defence industry can act as a strong driver for economic recovery. Investments in this sector have a significant multiplier effect on the economy—they create jobs, stimulate innovation, and boost the nation’s manufacturing capabilities, he concluded.
Representatives from the business and diplomatic sectors attended the event, along with the Ambassador of Ukraine to Bulgaria, H.E. Olesya Ilashchuk, and Professor Ihor Zhaloba, President of the Paneuropean Union in Ukraine.