site.btaBulgaria Eyes Japan as Trade Partner; Deputy Economy Minister Marks Strengthened Bilateral Ties

Bulgaria considers Japan a strategic partner in Asia, prioritizing the development of bilateral relations and seeking to improve trade and investment ties, Deputy Minister of Economy and Industry David Sukalinski said at the opening of a Bulgarian-Japanese Business Forum here on Tuesday. He noted that the event shows the mutual commitment and desire for active dialogue and stronger trade and economic relations between the two countries.

The business forum was organized by the Japan External Trade Organization (JETRO) and InvestBulgaria Agency. Participants included Japanese Ambassador to Bulgaria Hisashi Michigami, President of JETRO Susumi Kataoka as head of a Japanese delegation of over 90 representatives from different Japanese companies, Deputy Minister of Innovation Krasimir Yakimov, Sofia Deputy Mayor Ivan Vasilev, and other notable figures.

"I believe that today's event and business networking will serve as a launchpad for concrete business partnerships and joint projects in various economic sectors of mutual interest," Sukalinski said further.

The Deputy Minister confirmed that the Bulgarian government's foreign economic policy will remain focused on trade and industrial relations with Japan, a long-standing partner in the region. "We support all initiatives that promote effective cooperation between our two countries," he added.

The Japanese delegation's visit to Bulgaria is organized by JETRO and is aimed at exploring Bulgaria's potential for investment and trade. During the visit, the delegation will be introduced to investment opportunities available in the National Company Industrial Zones' (NCIZ) industrial zones throughout the country. On Thursday, the delegates are scheduled to tour Bozhurishte industrial park, the largest State industrial park property of the NCIZ.

In recent years, the trade relations between the two countries have grown significantly. In the first half of 2024, trade with Japan totaled USD 134.3 million, with Bulgarian exports reaching nearly USD 41.0 million, an increase of over 10%.