Bulgaria seeks stronger relations with Egypt in trade, innovation: Bulgarian Embassy
Bulgarian Minister of Economy Daniela Vezieva visited Cairo from 28 November to 2 December to participate in the second edition of the Egypt Defence Expo (EDEX 2021), which boasted more than 400 foreign companies from around the world. Twelve Bulgarian companies participated in EDEX 2021, including VMZ – Sopot.
On the sidelines of EDEX 2021, Minister Vezieva met with Egyptian Minister of Defence Mohamed Zaki and the Egyptian Minister of State for Military Production Mohamed Ahmed Morsi.
Both sides expressed a mutual interest in deepening bilateral cooperation in the military industry, as they noted the traditionally good partnership between enterprises with specialized products from both countries. Possibilities of increasing exports and the transfer of technology in the defence sector were also discussed, according to Bulgarian Embassy in Cairo.
The embassy said that Minister Vezieva also met with Egyptian Minister of Planning and Economic Development Hala El-Said discussed the opportunities of strengthening and increasing trade, as well as a more active partnership in the field of innovation and IT technologies, mechatronics and clean technologies, transition to a circular and green economy, and cooperation in the field of digitalization.
Minister Vezieva pointed out that Egypt is one of Bulgaria’s largest trading partners in the Middle East and Africa. The meeting also touched on the strengthening of investment cooperation between the two countries and the creation of joint export oriented ventures.
For her part, Minister Vezieva commented that Bulgaria can offer high quality products at competitive prices in the field of mechanical engineering, pharmaceutical and medical devices, cosmetics and food products, among others.
She stressed that Bulgarian and Egyptian companies can work together, both in the exchange of experience and expertise and in the implementation of projects in third countries. In this regard, Minister Vezieva also presented the opportunities for investment in Bulgaria, as she added that the country can provide access to the European Single Market and that Egypt could serve as a gateway to the Middle East and Africa.
At a meeting with Egyptian Minister of the Public Enterprise Sector Hisham Tawfik, Minister Vezieva pointed out that Bulgaria can offer valuable expertise in the field of pharmacy, food industry, organic farming and the production of electric buses and vans. Moreover, Bulgarian companies are interested in exporting medical supplies, machinery for the food industry and different technologies for the electrical industry. Both sides also touched on possible cooperation in the agricultural sector related to new technologies for organic production, in the field of the processing industry, machine building and food production. Minister Vezieva added that in Bulgaria there are exceptional IT specialists, who can offer technological and software solutions.
Vezieva also met Walid Gamal El-Din, CEO of the Suez Canal Economic Zone (SCZone), who informed her of the investment opportunities that export-oriented Bulgarian companies can take advantage of in the SCZone and the affiliated ports and industrial zones. The Bulgarian minister expressed her aspiration to cooperate with the SCZone in the field of green economy, pharmaceutical industry and various other fields. Both sides discussed the opportunity to establish a Bulgarian Economic Zone in the SCZone.
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