PM asserts keenness of govt to increase trade exchange rates with Bulgaria

Prime Minister Mostafa Madbouly highlighted available opportunities of cooperation between Egypt and Bulgaria in the economic field, pointing out to the keenness of the Egyptian government to increase the rates of trade exchange between both countries.

Madbouly lauded bilateral ties between both countries, adding that the bilateral ties progress over the past years.

This came during Madbouly’s meeting on Saturday 10/02/2024 with Bulgarian Deputy Prime Minister Mariya Gabriel and her accompanying delegation in presence of Foreign Minister Sameh Shoukry and Bulgarian Ambassador to Egypt Deyan Katratchev and Assistant Foreign Minister for European Affairs Khaled Emara.

During the meeting, Madbouly lauded Gabriel’s efforts to boost bilateral ties.

Madbouly pointed out to the fruitful cooperation between Egypt and Bulgaria in the field of food security via increasing Bulgarian wheat supply directly to Egypt, adding that there is a possibility to increase importing wheat and oil seeds from Bulgaria in return of exporting Egyptian veggies and citrus to Bulgaria.

Madbouly asserted keenness of the Egyptian government to encourage cooperation between the private sector in both countries to increase the rates of investment and mutual manufacturing in different fields including information technology, artificial intelligence and renewable energy.

He welcomed the possibility to provide a zone allocated for the Bulgarian companies in the SCZone so that Egypt would become a center for launching Bulgarian companies and trade to the Middle East and Africa.

In return, Bulgaria would become a center for directing Egyptian exports towards the European Union and a logistic and storage base in south east of Europe and the Balkans, he said.

He asserted that the distinguished position of Egypt and Bulgaria can extremely benefit both countries.

Madbouly pointed out to boosting cooperation in the field of renewable energy, adding that Egypt achieved progress on the road of supporting and encouraging investments in the field of green hydrogen.

Madbouly also pointed out to the efforts exerted by the Egyptian state in the field of electric linking with a number of European countries, asserting Egypt’s keenness on cooperating with Bulgaria in this field as soon as possible.

PM Madbouly also reviewed Egypt’s efforts exerted to prevent illegal emigration, pointing out that Egypt is cooperating with the EU to stop illegal migration.

He added that Egypt provides training programs for the Egyptian cadres as part of a program to export Egyptian labor legally.

Meanwhile, Gabriel said that Egypt is a strategic partner to Bulgaria and it is a main partner in the trade file.

Egypt and Bulgaria cooperate in the field of food security, especially in supplying Egypt with wheat, she said.

Bulgaria is open to cooperating with Egypt in the field of green hydrogen in addition to cooperation with Egypt to ban illegal emigration, she said.

She lauded the Egyptian efforts exerted to reach a solution to the humanitarian situation in the Gaza Strip, asserting Egypt’s role in supporting the stability of the Middle East and Africa.

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