Delegation of Egypt in Bulgaria


Bulgaria’s Minister of Innovation and Growth and Egypt’s Deputy Minister of Trade and Industry discussed cooperation in information technology, artificial intelligence and the automotive sector. Egypt could be a logistics and transport hub for Bulgarian business to African market.

On 19.09.2023 the Bulgarian Investment Agency hosted a high-level meeting with a delegation from Egypt led by Deputy Minister of Trade and Industry of Egypt Yaha Ahmed, representatives of the Ministries of Energy, Transport and the Egyptian Investment Agency. It was presented by the Egyptian Ambassador to Sofia H.E. Khalid Emara. From the Bulgarian side participated the Minister of Innovation and Growth Ms. Milena Stoycheva, the Executive Director of IBA Mr. Hristo Etropolsky, representatives of Bulgarian business and entrepreneurs from various leading sectors. The main topic of the talks was the possibility of strengthening cooperation between the two countries in the field of economy and high technologies.

Mr. Hristo Etropolsky at the beginning of the meeting presented the business climate in our country and the opportunities for cooperation in new areas.  The incentives that potential investors can receive to develop their activities in Bulgaria were explained.  It was pointed out that priority investment projects in Bulgaria have the possibility to receive grants according to European standard in the form of state aid.  The Egyptian side was informed about the latest statistics on key economic indicators in the economic relations between the two countries. The executive director provided data showing that trade between the two countries amounted to 828 million euros in 2022, an increase of 80% compared to the previous year, while the Egyptian side clarified that this figure is even higher.

Minister Stoycheva pointed out that Bulgaria has a well-developed digital and communication infrastructure, which is a key advantage in making it an important innovation destination. “Bulgaria and Egypt can work together to develop the economies of both countries and position them on the global market, as well as to develop human capital. I believe that with knowledge and experience we can unlock the potential and opportunities for interaction between our countries,” she further stressed. Minister Stoycheva and Deputy Minister Ahmed also discussed the possibilities of organizing working meetings between companies from the Arab world and Europe in our country and in Egypt.

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