site.btaBulgaria, Egypt Mull Cooperation in IT, AI, Automotive Industry

Bulgarian Innovation and Growth Minister Milena Stoycheva and Egypt's Deputy Minister of Trade and Industry Yahya el Wathik Bellah Ahmed discussed opportunities for deepening cooperation between their countries in information technology, robotics, mechatronics, artificial intelligence and the automotive industry.

"Egypt can be a logistics and transport gateway to the African market for Bulgarian business. In turn, Bulgaria can serve as a link of Egyptian companies and investors with the Bulgarian and EU market. We can pursue bilateral economic relations by sharing experience and expertise in the sphere of innovation through human and intellectual resources," Stoycheva told the guest.

Also attending the meeting were Egypt's Ambassador in Sofia Khalid Emara, InvestBulgaria Agency Executive Director Hristo Etropolski, and officials of the ministries of energy and transport and Egypt's General Authority for Investment and Free Zones (GAFI).

The Bulgarian Minister and the Egyptian Deputy Minister also commented on the activities of the Sofia-based Institute for Computer Science, Artificial Intelligence and Technology (INSAIT). The delegation specified that they will hold a meeting at INSAIT shortly.

"The Ministry of Innovation and Growth seeks to build strategic partnerships in high technology at both regional and global level. Research and developnent in this country makes it possible to develop high-tech innovations in key sectors that can be attractive to foreign investors," Stoycheva said during the meeting. In her words, "Bulgaria has a well developed digital and communication infrastructure, which is a key advantage for the country as a place where the new wave of innovation evolves." 

The development of the automotive industry in Bulgaria and the setting up of a Hydrogen Valley in this country.

Deputy Minister Ahmed said that Egypt has a strategy for the implementation and development of hydrogen technologies and a strategy for the development of the automotive industry in the country.

"Bulgaria and Egypt can work together for the development of their economies and their positioning on the global market, as well as for the development of human resources. I believe that by knowledge and experience we can unleash the potential and opportunities for interaction between our countries," Stoycheva stressed. She noted that her Ministry also focuses on innovation in education and culture and the creative industries, in which Egypt is showing interest.

The sides also considered opportunities for organizing working meetings between Arab World and European companies in Bulgaria and Egypt.