Bulgaria seeks to strengthen relations with Egypt in the fields of trade and innovation, according to Bulgarian Embassy

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Bulgarian Minister of Economy Daniela Vezieva visited Cairo from November 28 to December 2 to participate in the second edition of the Egypt Defense Expo (EDEX 2021), which brought together more than 400 foreign companies from around the world. Twelve Bulgarian companies participated in EDEX 2021, including VMZ – Sopot.

On the sidelines of EDEX 2021, Minister Vezieva met Egyptian Minister of Defense Mohamed Zaki and Egyptian Minister of State for Military Production Mohamed Ahmed Morsi.

The two sides expressed mutual interest in deepening bilateral cooperation in the military industry, noting the traditionally good partnership between enterprises with specialized products of the two countries. The possibilities of increasing exports and technology transfer in the defense sector were also discussed, according to the Bulgarian Embassy in Cairo.

The Embassy said Minister Vezieva also met with Egyptian Planning and Economic Development Minister Hala El-Said discussed opportunities for strengthening and increasing trade, as well as a more active partnership in the field. innovation and IT technologies, mechatronics and clean technologies, transition to a circular and green economy, and cooperation in the field of digitization.

Minister Vezieva underlined that Egypt is one of Bulgaria’s biggest trading partners in the Middle East and Africa. The meeting also discussed strengthening investment cooperation between the two countries and establishing joint export-oriented enterprises.

For her part, Minister Vezieva said that Bulgaria can offer high quality products at competitive prices in the fields of mechanical engineering, pharmaceutical and medical devices, cosmetics and food products, among others.

She underlined that Bulgarian and Egyptian companies can work together, both in the exchange of experience and expertise and in the implementation of projects in third countries. In this regard, Minister Vezieva also presented the investment opportunities in Bulgaria, adding that the country can provide access to the single European market and that Egypt could serve as a gateway to the Middle East and Africa.

In a meeting with Egyptian Minister of Public Enterprise Sector Hisham Tawfik, Minister Vezieva stressed that Bulgaria can offer valuable expertise in the field of pharmacy, food industry, organic farming and production of electric buses and vans. In addition, Bulgarian companies are interested in the export of medical supplies, machinery for the food industry and different technologies for the electrical industry. The two sides also discussed possible cooperation in the agricultural sector related to new technologies for organic production, in the field of processing industry, machine building and food production. Minister Vezieva added that in Bulgaria there are outstanding IT specialists who are able to offer technology and software solutions.

Vezieva also met with Walid Gamal El-Din, CEO of the Suez Canal Economic Zone (SCZone), who briefed her on investment opportunities that export-oriented Bulgarian companies can take advantage of in the SCZone and ports. and affiliated industrial zones. The Bulgarian Minister expressed her aspiration to cooperate with SCZone in the field of green economy, pharmaceutical industry and various other fields. The two sides discussed the advisability of establishing a Bulgarian economic zone in the SCZone.




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