site.btaPresident Radev Meets Hungarian Minister of National Economy

The implementation of the bilateral agreements on the development of connectivity between Bulgaria and Hungary is an investment in the economic development of the two countries and has a stabilizing effect on the region, said Rumen Radev at a meeting with Hungarian Minister of National Economy Marton Nad, who is visiting Bulgaria Monday.

The conversation was attended by the CEO of N7 Holding Ltd Ferenc Antal, who is also Deputy State Secretary of the Ministry of National Economy of Hungary, representatives of the Hungarian Tourism Agency and the Ambassador of Hungary in Bulgaria Miklos Boros.

The meeting focused on the prospects of deepening the ties between Bulgaria and Hungary in areas of mutual interest against the background of the two draft memoranda between the two countries adopted by the government in January - for the establishment of a long-term strategic partnership in the defence industry and the transport sector and for the deepening of bilateral cooperation in the tourism sector. It is believed that the two documents would give a new impetus to the economic interaction between Bulgaria and Hungary, providing expanded opportunities for cooperation and building on the bilateral partnership.

President Radev and the Minister of National Economy of Hungary highlighted the importance of the memoranda as a basis for future cooperation in transport and logistics. In this context, Rumen Radev highlighted Bulgaria's competitive advantages related to its strategic location, and the potential of the ports in Varna and Burgas. He also underlined their strategic importance in the transport corridors between Europe and Asia. The possibility of making more active use of the Danube as a transport corridor between Bulgaria and Hungary through our port in Ruse, which also has a rail link with the port of Varna, was also discussed. Strategic pan-European transport corridors pass through Bulgaria's territory and our country is working to further expand them, the Head of State also said, the President's press secretariat further said.

They also informed that emphasis is also placed on bilateral cooperation in areas with development potential. Among them, the defence industry, tourism, investment, energy, etc. were highlighted. During the meeting, the Head of State highlighted Hungary's role in the process of Bulgaria and Romania's accession as full members of the Schengen area. Rumen Radev stressed that this provides new economic opportunities for both our country and the European Union.

The Minister of Tourism of Bulgaria Miroslav Borshosh and Marton Nad signed a Memorandum of Understanding in the field of tourism. The document aims to strengthen bilateral cooperation and create preconditions for sustainable development of the tourism sector between the two countries, the Bulgarian ministry said. Marton Nad also met GERB leader Boyko Borissov.