The volume of trade exchange between Egypt and Bulgaria reached $529 million during 2023, the Egyptian Minister of Trade and Industry, Ahmed Samir, announced during his meeting with Bulgarian Minister of Economy and Industry
The volume of trade exchange between Egypt and Bulgaria reached $529 million during 2023, the Egyptian Minister of Trade and Industry, Ahmed Samir, announced during his meeting with Bulgarian Minister of Economy and Industry, Bogdan Bogdanov to discuss ways to enhance joint cooperation between the two countries.
During the period from 1970 until the end of April 2023, Bulgaria ranked 22nd among the most important European Union countries investing in Egypt, as the capital invested in Bulgarian projects in Egypt reached approximately $47.69 million, spread across 30 projects.
Samir highlighted that industrial investments are the primary focus for Bulgarian sectors investing in Egypt, accounting for a total capital of about $44.02 million. Followed by the fields of finance, construction, tourism, communications and information technology.
The minister pointed to the great investment opportunities for Bulgarian companies in areas of the automotive industry, artificial intelligence, tourism, petrochemicals, and pharmaceuticals.
Bogdanov stressed Bulgaria’s willingness to strengthen ties and cooperation with Egypt as it is one of the most important countries in the Middle East and Africa region.
Recently on Saturday, Egyptian Foreign Minister, Sameh Shoukry, recived Mariya Ivanova Gabriel, Deputy Prime Minister and Minister of Foreign Affairs of Bulgaria, at the Egyptian Ministry of Foreign Affairs’ headquarters in the New Administrative Capital.
Egypt and Bulgaria signed three agreements including a memorandum of understanding on cooperation in natural gas.
The other two agreements include mutual exemption from short-stay visa requirements for holders of diplomatic and service passports as well as a MoU on cooperation between Egyptian and Bulgarian defense ministries.
