site.btaDirect Air Services to Be Launched between Bulgaria and Saudi Arabia at Beginning of 2023

Direct air services are to be launched between Sofia and Riyadh and between Varna and Dammam at the beginning of 2023. An Air Communications Agreement between the Governments of Bulgaria and Saudi Arabia, the first bilateral transport agreement, was signed in Riyadh on Thursday by Deputy Prime Minister and Minister of Transport and Communications Hristo Aleksiev and Saudi Minister of Transport and Logistic Services Saleh Al-Jasser.

"The agreement creates a new legal framework aligned with EU law, which meets the contemporary requirements for air services," Aleksiev said. "It will bolster our cooperation in the field of aviation and will give an added impetus to the development of new projects and joint initiatives between our two countries."

The future air services Sofia-Riyadh-Sofia and Varna-Dammam-Varna will be operated by flagcarrier Bulgaria Air and low-cost airline Flynas.

During their official visit to Riyadh, Aleksiev and Innovation and Growth Minister Alexander Pulev conveyed the message that Bulgaria views Saudi Arabia as a strategic partner in the Middle East. Meeting with Industry and Mineral Resources Minister Bandar bin Ibrahim Alkhorayef, they presented public and private projects in robotics, artificial intelligence, nanotechnology, and logistic services using drones. The Saudi side expressed an interest in cooperation in mining and automaking.

The guests also had working meetings with Economy and Planning Minister Faisal bin Fadhil Alibrahim and Public Investment Fund (PIF) Governor Yasir Othman Al-Rumayyan.

PIF is among the largest sovereign wealth funds in the world with total estimated assets of USD 400 billion. It was set up in 1971 to invest resources on behalf of the Saudi government. It has established more than 30 companies across 10 strategic sectors and has generated 331,000 direct and indirect job opportunities.

PIF officials expressed an interest in strategic partnership in infrastructure projects and direct investments in Bulgarian hi-tech companies.