site.btaTrade between Bulgaria, Japan Exceeds USD 300 Mln in 2021 

In 2021, Bulgaria's trade with Japan exceeded USD 300 million, increasing by over 30%, it transpired after a meeting between Bulgarian caretaker Economy and Industry Minister Nikola Stoyanov and Japanese business representatives in Bulgaria. Japanese Ambassador to Bulgaria Narahira Hiroshi also attended the meeting, the Economy Ministry said in a press release here on Monday.

The event was held within the Breakfast with Investors initiative of Minister Stoyanov and was organized with the support of the Japan-Bulgaria Business Association and the Embassy of Japan in Bulgaria.

The initiative, launched by Stoyanov in early October, is intended to improve the business climate and promote investment by foreign companies in this country. Its aim is for foreign businesses in Bulgaria to have direct and regular contact with the economy minister.

"Japan is a priority trade and economic partner of Bulgaria and there is a huge potential for the development of our bilateral relations," Stoyanov said. In his words, the Japanese market’s high standards and this country’s remote geographical location make it necessary for Bulgarian companies to develop high quality products in order to be competitive there. In Japan, there is an increased interest in Bulgarian environmentally friendly and healthy products.

In total, Japanese projects in Bulgaria are worth some BGN 320 million and provide nearly 7,000 jobs, it transpired from the meeting.

"I am sure that we can attract more Japanese investments to our country and this is one of the goals of these meetings," Stoyanov added.

Ambassador Narahira thanked for the initiative and expressed his expectation that interest in Bulgaria will grow in the near future.