South Korea is our key trade and economic partner in East Asia. Bulgaria is focused on attracting more South Korean investments in priority sectors. The Deputy Minister of Economy and Industry, Nikolay Pavlov, said this at the Bulgarian-Korean Energy Forum. The event was organized by the Atlantic Club of Bulgaria, the Korea Trade and Investment Promotion Agency (KOTRA), and the Embassy of the Republic of Korea in Bulgaria.
“Our Asian partners can leverage Bulgaria’s potential and advantages as a gateway to the vast market of the European Union and the region,” he explained. The Deputy Minister of the Economy said that Bulgaria can offer high-quality products that are already successful in global markets to the Korean market .
During his speech on the panel titled “The Path to a Greener Future,” Pavlov noted that there are several challenges in reaching the goals of the Green Pact. However, the positive aspect is that there is a general consensus on the direction to take. He said that Bulgaria is no exception, with sensible and achievable targets, timelines, and ambitions. “The partnership between Bulgaria and South Korea will facilitate a smoother and more balanced journey, strengthening our economies and making them more environmentally friendly and beneficial for our societies,” Pavlov said.
The Deputy Minister highlighted the key components of the European Green Deal in the journey towards climate neutrality. These include funding green projects, decarbonizing industries, developing green supply chains, advancing low-carbon technologies, and transforming energy systems. “The aim is to guide Europe towards a resource-efficient economy, address climate change, improve food security, and ultimately achieve net-zero carbon emissions by 2050,” Pavlov added.
“The green and digital transitions remain a priority in European politics. The plan for the Green Deal outlines how European industry should spearhead the dual transition towards climate neutrality and digital leadership while improving its open strategic autonomy,” Pavlov indicated. He added that the goal is to boost the competitiveness of European industry.
Nikolay Pavlov noted that energy-intensive industries are crucial to the economy, as they are among the largest consumers of energy and emitters of greenhouse gases. “Europe aims to reduce their carbon footprint and speed up the transition to climate neutrality. A key aspect of the circular economy is that waste from production can be recycled, reused, recovered, and transformed into valuable resources,” Pavlov said. He added that developing affordable and efficient clean technology solutions to achieve the EU’s long-term environmental goals is a key priority .