The economic minister and the Japanese deputy minister discussed new opportunities for bilateral cooperation.

The Minister of Economy and Industry Petŭr Dilov held a meeting with Akiyoshi Kato, Parliamentary Vice-Minister of Economy, Trade and Industry of Japan. Vice-Minister Kato was visiting Bulgaria together with a delegation of 24 representatives of Japanese companies, including leading global manufacturers in the field of electronics and technology.

During the meeting, the two discussed new opportunities for cooperation between Bulgarian and Japanese companies in key sectors of mutual interest, such as the automotive industry, high-tech, energy, infrastructure, and others. The Deputy Minister of Economy and Industry Doncho Barbalov also participated in the meeting.

Minister Dilov emphasized that Bulgaria sees Japan as a key strategic partner in Asia and expressed the desire for our country to be known not only as a country of roses and yogurt, but also as an attractive business and investment destination, especially in high-tech sectors, innovations and information and communication technologies. He pointed out that targeted efforts are being made to attract new investors, especially in industrial production and high-tech sectors.

According to Dilov, the presence of Japanese companies in Bulgarian industrial zones will provide an opportunity for more visible positioning of Bulgaria in Europe. He added that our country is establishing itself as an innovation hub in the region and encourages high value-added production.

The meeting made it clear that the bilateral trade turnover for 2024 amounts to over $270 million, but there is significant potential to increase Bulgarian exports to Japan. Minister Dilov stressed that particular attention is paid to increasing exports of products with higher added value, including machinery and machine components.

Dilov expressed hope for Japan's support as a partner, a member of the OECD and the G7, to achieve Bulgaria's membership in the OECD, which is one of the country's key foreign economic priorities. The Minister also welcomed the participants in a bilateral Bulgarian-Japanese business forum organized by BSMEPA in partnership with the Embassy of Japan, the Ministry of Economy, Trade and Industry of Japan and JETRO.