Bulgarian Ambassador in Cairo Celebrates 100 Years of Egypt-Bulgaria Trade Partnership
In an event marking a significant milestone, the Bulgarian Ambassador to Egypt, Deyan Angelov Katratchev, announced the centenary of official diplomatic relations between Egypt and Bulgaria. This celebration underscores a robust and evolving partnership in both investment and trade.
Historical Context of Egypt-Bulgaria Relations
Ambassador Katratchev emphasized that the connection between Egypt and Bulgaria extends far into history. Key interactions began during the Byzantine and Mamluk periods. A notable Bulgarian community has resided in Egypt since 1854, particularly in Alexandria, where they played an active role in commerce and the economy for over 90 years.
Recent Developments in Cooperation
Since 2018, the relationship has seen a notable increase in cooperation. High-level mutual visits have included the Bulgarian Prime Minister and President, who have participated in significant events like the Climate Summit and the inauguration of the Grand Egyptian Museum. These exchanges have strengthened both economic and political ties between the nations.
Economic Growth and Investment Opportunities
The ambassador pointed to Egypt’s strategic location and recent infrastructure advancements as key factors attracting Bulgarian investments. Major sectors for collaboration include manufacturing, technology, and the food industry. A noteworthy initiative is the forthcoming Bulgarian automotive project in Egypt.
- Bulgaria exports wheat to Egypt.
- Egypt supplies potatoes and citrus fruits to Bulgaria.
- Plans for further cooperation in the petrochemical sector are underway.
Current Trade Statistics and Future Prospects
As of 2024, bilateral trade and investment between Egypt and Bulgaria have reached around $1.8 billion. Looking forward, the upcoming centenary celebrations in 2026 are anticipated to further enhance investment opportunities, tourism, and direct flights between Cairo and Sofia. This progress will undoubtedly fortify the Egypt-Bulgaria relationship in the years to come.
