site.btaBulgaria and Slovenia to Work on Deepening Economic Cooperation

Minister of Economy and Industry Bogdan Bogdanov and Ambassador of Slovenia to Bulgaria Natasha Bergel discussed opportunities for intensifying cooperation in the automotive sector, information and communication technologies, energy, innovation, tourism and education. They underlined the increase in trade between the two countries, which reports an increase of over 100% for 2022.

Bogdanov briefed Bergel on the comprehensive new strategy for the development of Bulgaria's industrial zones and parks, which is currently under development. He pointed out that the development of the zones will be linked to specific sectors, with infrastructure in place and with the necessary resources secured for investors. He gave the new industrial zone "Dobroslavtsi" as an example which focuses on the automotive industry. In his words, the state should focus on individual regions of Bulgaria and their economic and infrastructural specificities. "Priority will be investing in Northern Bulgaria," Bogdanov said.

The investment potential between the two countries was also discussed. Bergel noted that Slovenian companies are interested in doing business in Bulgaria. 

The two officials talked about the favourable prospects for cooperation between the two countries in the automotive industry. Bogdanov pointed out that this is one of the fastest growing sectors in Bulgaria. According to him, the number of companies and employees in the sector has grown significantly over the last ten years, and currently more than 70,000 people work in the automotive industry. "Many companies in the country are now shifting their manufacturing focus to electric vehicle components and autonomous driving," he said.

The two also highlighted opportunities for cooperation in the energy sector. The diversification of energy sources, the promotion of interconnectivity and the exchange of experience in the nuclear energy sector were among the topics of discussion. In Bogdanov's words, Bulgaria could become a hub for the production of energy storage systems and green hydrogen. 

Bogdanov briefed Bergel with one of the main priorities of the Bulgarian government, namely the accession of the country to Schengen, and Bergel expressed Slovenia's full support. 

Bogdanov expressed his solidarity and sympathy with the victims of the severe floods in Slovenia. He underlined the readiness of the Bulgarian government to provide support according to the needs of the areas affected by the heavy rains.

In 2022, trade between the two countries amounted to EUR 1.05 billion, with an increase of over 100%, of which Bulgarian exports reached nearly EUR 690 million and imports nearly EUR 367 million. Trade in goods for the first quarter of 2023 alone amounted to EUR 196.6 million, an increase of 7.3% compared to the same period of 2022.