CAIRO – 11 February 2024: Egyptian Minister of Trade and Industry, Ahmed Samir, announced that the trade exchange volume between Egypt and Bulgaria in 2023 reached $529 million.
This announcement came during his meeting with the Bulgarian Minister of Economy and Industry, Bogdan Bogdanov. The purpose of the meeting was to discuss ways to enhance cooperation between the two countries.
From 1970 until the end of April 2023, Bulgaria ranked 22nd among the most prominent European Union countries investing in Egypt. The capital invested in Bulgarian projects in Egypt amounted to approximately $47.69 million, distributed across 30 projects.
The primary focus of Bulgarian sectors investing in Egypt has been industrial investments, with a total capital of about $44.02 million. Other sectors of investment include finance, construction, tourism, communications, and information technology.
Samir emphasized the investment opportunities available for Bulgarian companies in various sectors such as the automotive industry, artificial intelligence, tourism, petrochemicals, and pharmaceuticals.
Bogdanov expressed Bulgaria's willingness to strengthen ties and cooperation with Egypt, recognizing Egypt's significance as one of the most important countries in the Middle East and Africa region.
Furthermore, on a recent Saturday, the Egyptian Foreign Minister, Sameh Shoukry, welcomed Mariya Ivanova Gabriel, the Deputy Prime Minister and Minister of Foreign Affairs of Bulgaria, at the headquarters of the Egyptian Ministry of Foreign Affairs in the New Administrative Capital.
During this meeting, Egypt and Bulgaria signed three agreements. These agreements include a memorandum of understanding (MoU) on cooperation in the natural gas sector.
The other two agreements involve mutual exemption from short-stay visa requirements for holders of diplomatic and service passports, as well as MoU on cooperation between the defense ministries of Egypt and Bulgaria.
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