site.btaMinister Nikola Stoyanov: Bulgarian Exports to Bavaria Exceed a Record EUR 1 Bln

The export of Bulgarian goods to the federal state of Bavaria in 2021 exceeded EUR 1 billion, which is a record in bilateral trade. This was highlighted during a meeting between Bulgarian Economy and Industry Minister Nikola Stoyanov and the Minister of State and Head of the Bavarian State Chancellery Florian Herrmann, the Ministry of Economy and Industry said on Monday.

During the conversation, State Minister Florian Herrmann shared his satisfaction with the traditionally excellent partnership between Bulgaria and Bavaria at the economic and political level. Bavaria is a leading investment partner of Bulgaria with a number of successful examples in the field of mechanical engineering, the production of components for the automotive industry, information and communications technology, etc. "The good results we are reporting make us ambitious to achieve even higher goals in our commercial and economic relations," stressed Minister Stoyanov. He informed his German counterpart of his upcoming meetings with potential investors from Bavaria as the two agreed to promote investment processes at the federal and state level.

During the meeting, it was agreed that Bulgaria and Bavaria would exchange experience in the field of information and communication technologies.

The two ministers agreed that Bavaria's successful experience of connecting science and business could be implemented in Bulgaria in line with the establishment of new partnerships with the Bulgarian Academy of Sciences,  universities and business.

"Bulgaria received significant attention at the largest conference on entrepreneurship, innovation, IT and digitalization, Bits&Pretzels , which is held in Munich precisely because of its prepared personnel and the achieved results in the sector", stressed Minister Stoyanov. He explained that Bulgaria can offer a lot not only as a destination for investments, but also in partnership between Bulgarian and Bavarian companies in the field of the information and communication technologies sector, innovation and digitalization.

A priority for Minister Stoyanov is to activate as quickly as possible the permanent intergovernmental commission Bulgaria-Bavaria, which would speed up the partnership between Bavaria and Bulgaria in the areas of mutual interest.