site.btaPresident Radev Welcomes Japanese Interest in Investment and Trade Potential of Bulgaria

President Rumen Radev welcomed the interest shown by the Japanese side in getting to know Bulgaria's investment and trade potential, as well as in holding meetings of Japanese business representatives with potential Bulgarian partners. Radev met with owners and representatives of leading Japanese companies in the field of transport, construction, food industry, information technology, film industry, tourism, culture and art, as well as local government in the country. Japanese Ambassador to Bulgaria Hisashi Michigami took part in the conversation, the press office of the head of State said.

Radev expressed the ambitions of this country to attract investments in the field of high technologies and industries with high added value, the likes of which Japan is already developing in this country, highlighting Bulgaria's advantages in this regard, including highly educated and qualified human potential, favorable macroeconomic tax conditions.

In the first six months of 2024, the total exchange of goods between Bulgaria and Japan was USD 124.1 million, with exports worth USD 37.9 million, and imports from Japan worth USD 86.2 million. There is an increase in Bulgaria's exports to Japan, which is due to a growth in the production of integrated circuits and electronic micro-assemblies in this country, as well as chemical products. When it comes to imports from Japan, the leading positions are occupied by the automobile industry.

The sides in the meeting concurred that the international exhibition in Osaka, Expo 2025, which will  include innovative Bulgarian companies, is also an occasion for Bulgaria and Japan to deepen their partnership relations. The Japanese side welcomed the potential opportunity for the head of State to visit Japan in connection with the exhibition.

Japanese businesses expressed respect for the achievements of Bulgarian culture and art, as well as readiness to support the restoration of the International Ballet Festival in Varna. Among the topics discussed were the planned realization of Japanese film productions in this country, as well as plans for a world-famous exhibition of Japanese ceramic art in Sofia. The exhibition is currently on a European tour in Italy, France and Germany.

Prominant Bulgarian sumo wrestler Kaloyan "Kotooshu" Mahlyanov, who has been living in Japan for years, took part in the meeting. From the Japanese side, it was stated that Kotooshu made a great contribution to increase Japanese interest in Bulgaria, and the head of State pointed out that this country is proud that a Bulgarian has achieved significant success in a sport that embodies Japanese traditions and culture.