BULGARIAN INVESTMENT AGENCY AT COP29: A NEW PARTNERSHIP FOR A GREEN FUTURE

BULGARIAN INVESTMENT AGENCY AT COP29: A NEW PARTNERSHIP FOR A GREEN FUTURE

At COP29 in Baku, the  InvestBulgaria Agency (IBA) signed an important memorandum of understanding with the Small and Medium Business Development Agency of Azerbaijan. The signing was attended by Mrs. Mila Nenova, Executive Director of IBA, Minister of Innovation and Growth Rosen Karadimov and Deputy Minister Yakimov. The document is aimed at strengthening trade relations between Bulgaria and Azerbaijan, which will lead to an increase in employment and social stability in the region.

The Memorandum provides an opportunity for the implementation of joint investment projects and the exchange of experience and knowledge in the field of green technologies. This partnership will allow Bulgarian and Azerbaijani companies, especially small and medium-sized enterprises, to be more competitive, supporting the transition to sustainable and green development.

COP29 this year focuses on topics such as climate finance and the global assessment of progress on climate goals. Key topics also include green investments, transparent emissions reporting and support for developing economies. Bulgaria, through the participation of IBA and the Ministry of Innovation and Growth, shows a commitment to building a green economy. The participation of IBA and the signing of the memorandum with Azerbaijan is a significant step towards strengthening Bulgaria’s position as a center for green investments. This document opens up new horizons for sustainable development, which is of utmost importance in the fight against climate challenges and economic stability of both countries.

The Ministry of Innovation and Growth, through the Executive Agency for Small and Medium-sized Enterprises, is a co-organizer for the second year of the Bulgarian pavilion of the conference on combating climate change.

 

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