site.btaGerman Economic Attache: Combining Bulgaria's Digital Sector and Defence Industry Can Result in Huge Development

German Embassy Economic Section Head Moritz Seiler said that combining the potential of Bulgaria's digital sector with the defence industry can result in huge development and the current Government understands it. Seiler took part in Thursday’s business forum on innovations in the sector organized by the news website Economic.bg.

Seiler noted that there is a need for cooperation between the digital sector and defence, as well as for its funding. NATO and the EU allocate billions for procurement, research and development in defence, so Bulgaria should and can benefit. He added that Bulgaria is very strong in drone production and equipment.

The economist recalled that defence is one of the priority areas of all European countries and NATO. "I am glad that Germany and Bulgaria are cooperating in the defence sphere and industry," Seiler said, adding that Germany is developing multi-purpose vessels for the Bulgarian Navy.

Seiler pointed out that the secret of good Bulgarian-German relations lies in the fact that both countries benefit. Regarding the German investments in Bulgaria, the economic attaché concluded that "German companies take advantage of the opportunities offered by Bulgaria". Seiler also noted some common challenges within the German-Bulgarian Chamber of Industry and Commerce and other bilateral chambers, such as the state of the market economy.

"We have to follow the market and we should not make price interventions. It is important to listen to businesses on these issues", the German Embassy representative recommended.