The President of the Bulgarian Chamber of Commerce and Industry, Tsvetan Simeonov held talks with H.E. Nader Saad - Ambassador of the Arab Republic of Egypt, who has just presented his credentials to President Rumen Radev. Focus of the meeting was the possibility for expanding bilateral economic relations. The ambassador was introduced to the activities of the BCCI and its traditional relations with partners from Egypt. Simeonov said Egypt was a very important partner for Bulgaria and reminded that in 2026 the two countries would be celebrating the 100th anniversary of their formal bilateral relations. Yet, there were still chances of growing and enhancing apprehension and understanding in both directions.
Egypt is Bulgaria’s largest foreign trade partner from the regions of Middle East and Africa. The total exchange of goods for the period January-November 2023 was USD 1028.52 million, out of which the Bulgarian export amounted to USD 682.90 million. In 2022, the trade between the two countries reached 828.34 million USD, striking a 38.75% growth compared to 2021. In 2022 exports from Bulgaria reached USD 567.90 million and import from Egypt - 260.44 million USD.
The parties discussed the steps towards enhancing trade exchange which, in the words of the diplomat, could easily be tripled in the next few years.
Ambassador Saad pointed out that at the beginning of the month the Joint Bulgaria-Egypt Cooperation Commission had a meeting to adopt the political guidelines of the Bulgarian-Egyptian relations and the steps for monitoring the implementation of cooperation agreements and programs. It was attended by ministers and experts from Bulgaria, including the Minister of Foreign Affairs and the Minister of Economy and Industry. Additionally, the attendees discussed the establishment of a Bulgarian-Egyptian business council. The Bulgarian Chamber of Commerce and Industry will actively assist in the implementation of this initiative.