site.btaBulgaria and Hungary to Explore Joint Investments in Connectivity Projects

Bulgaria and Hungary will develop the transport corridors between the two countries and explore opportunities for joint investments in infrastructure projects to improve connectivity. This is outlined in a Memorandum of Understanding signed on Monday by Deputy Prime Minister and Minister of Transport and Communications Grozdan Karadzhov, Minister of Economy and Industry Petar Dilov and Hungarian Minister of National Economy Marton Nagy, the Transport Ministry said.

The ministers rallied around the idea that Bulgaria has an important strategic position on the European and world geopolitical map and significant potential to be a logistics hub for trade flows passing through the region.

"Our transport policy is focused on investing in infrastructure and the digitization of sea and river ports. The ports of Varna and Burgas are well connected to the country's road and rail network, and our efforts to modernize the road links allow the development of maritime transport as a key component of intermodal transport," Transport Minister Karadzhov said, quoted in the press release.

In his words, the modernization of the ports of Varna and Burgas creates conditions for effective cooperation with other countries of the Black Sea region.

Earlier in the day, development of connectivity between Bulgaria and Hungary was discussed at a meeting at with head of State Rumen Radev.