Activation and deepening of economic relations between the two countries

Activation and deepening of economic relations between the two countries were discussed by the Minister of Economy and Industry Bogdan Bogdanov and the Ambassador of the United Kingdom of Great Britain and Northern Ireland to our country H.E. Rob Dixon. The two talked about the potential and opportunities for a partnership between Bulgaria and the United Kingdom in the field of trade, the technological sector and microelectronics. The two agreed that these sectors are of great interest to companies from Great Britain and they provide an opportunity to expand and upgrade the cooperation between the two countries. Ambassador Dixon pointed out that the British side is interested in cooperation with Bulgarian companies in high-tech sectors. Minister Bogdanov pointed out that the United Kingdom is one of the important trading partners of our country, and both countries have a very good potential for development. Only for the first three months of 2023, Bulgarian exports to Great Britain increased by more than 90% and amounted to 372.1 million euros. Total trade for the quarter was EUR 625 million, increasing by over 127% compared to the same period in 2022. Bogdanov also emphasized that Bulgaria can offer many opportunities to British companies, as a connecting point between Europe and Asia. According to him, by organizing bilateral business forums and events, together with the British-Bulgarian Business Association, Bulgarian companies will be supported to enter and develop on the British market. The two united around the fact that there are still opportunities for partnerships in the automotive sector, fintech and in the field of artificial intelligence, as an example was given the first floor in Eastern Europe Institute for Computational Methods, Artificial Intelligence and Technologies INSAIT, already recognized by big tech giants. They also discussed the process of Bulgaria`s accession to the OECD, as Minister Bogdanov pointed out that the admission of our country is strategic and a priority for the Government and stated that Bulgaria will be more active in fulfilling the membership criteria. Ambassador Dixon expressed the UK`s full support for our country`s membership in the Organization.