Minister Nikola Stojanov: Our exports to Bavaria exceed record 1 billion euros

Minister Nikola Stojanov: Our exports to Bavaria exceed record 1 billion euros

Exports of Bulgarian goods to the federal state of Bavaria in 2021 will exceed 1 billion euros, which is a record in bilateral trade. This was underlined during a meeting between the Minister of Economy and Industry of the Republic of Bulgaria Nikola Stojanov and the State Minister for Federal Affairs and Media and Head of the Bavarian State Chancellery Florian Hermann.

During the talks, State Minister Florian Hermann shared his satisfaction with the traditionally excellent economic and political partnership between Bulgaria and Bavaria. Bavaria is a leading investment partner of Bulgaria with a number of successful examples in the field of mechanical engineering, production of components for the automotive industry, ICT, etc. “The good results we are reporting make us ambitious to achieve even higher goals in our trade and economic relations,” Minister Stojanov emphasized. He briefed his German counterpart on his upcoming meetings with potential investors from Bavaria and the two agreed to promote investment processes at federal and state level. “Our country seeks to attract not just new investments, but those that will add value to our economy, stimulate the growth of incomes and the skills of employees,” Nikola Stojanov explained.

Bulgaria and Bavaria to exchange experience in the field of information and communication technologies, it was agreed during the meeting. Bavaria, as the leading German state in the field of innovation and high technology, in 2019 announced an investment plan entitled “Hightech Agenda Bayern”, through which the state is investing a budget of nearly EUR 3.5 billion in the creation of competence centres. These are located in various Bavarian cities with a focus on developing elements of high technology – artificial intelligence, clean technology, quantum computing, space technology, support for start-ups, etc. The centres will work to create innovations for industry and business. The two ministers agreed that Bavaria’s successful experience in the field of science-business linkages could be replicated in Bulgaria through new partnerships with the Bulgarian Academy of Sciences (BAS), universities and businesses.

“Bulgaria received serious attention at the largest conference on entrepreneurship, innovation, IT and digitalization, which is held in Munich – “Bits&Pretzels”, precisely because of its trained staff and the results achieved in the sector,” Minister Stojanov emphasized. According to him, our country has a lot to offer not only as an investment destination, but also in the case of partnership between Bulgarian and Bavarian companies in the field of ICT sector, innovation and digitalization. “Bulgaria and Bavaria can partner in promoting these business contacts, especially in view of the series of crises we are facing,” the Bulgarian minister added.

A priority for Minister Stojanov is also the fastest possible activation of the Bulgaria-Bavaria Permanent Intergovernmental Commission to accelerate the partnership between Bavaria and Bulgaria in areas of mutual interest. The potential partnership between Bulgarian and Bavarian companies in common supranational projects at EU level is of interest, it became clear during the talks.

The meeting, which took place today at the Bavarian State Chancellery in Munich, was also attended by the Consul General of the Republic of Bulgaria in Munich Dragomir Dimitrov and the Head of the Office for Trade and Economic Affairs-Munich Stefan Yonkov.