site.btaBulgaria, Hungary Reinforce Economic Partnership, Sign New Bilateral Protocol

The 3rd Session of the Bulgarian-Hungarian Joint Intergovernmental Commission for Economic Cooperation concluded successfully with the signing of a bilateral protocol, reaffirming the strategic partnership between Bulgaria and Hungary, the Ministry of Economy and Industry said in a press release on Thursday.

The document was signed on the Bulgarian side by Economy and Industry Minister Peter Dilov, and on the Hungarian side by Foreign Affairs and Trade Minister Peter Szijjarto, who led the Hungarian delegation to Bulgaria. Both ministers expressed a strong mutual interest in deepening economic cooperation between the two countries.

Held in Sofia, the session covered a wide range of topics, including infrastructure development, support for innovation and sustainable energy solutions, the promotion of digital transformation, and the improvement of the investment climate.

Dilov emphasized that while economic relations between Bulgaria and Hungary are solid, there is room for even more dynamic development. “Minister Szijjarto’s presence, along with leading Hungarian companies, is a strong signal of both countries’ commitment to cooperation based on tangible results,” Dilov said. He highlighted that despite global challenges, bilateral trade between Bulgaria and Hungary remains stable. In 2024, trade volume reached EUR 2.29 billion, with Bulgarian exports to Hungary rising by over 4%.

“These figures reflect not only stability but also real potential that must be strategically developed through reducing the trade imbalance and encouraging two-way investments in priority sectors,” Dilov added.

Szijjarto noted that trade relations are developing very well and said the success of economic cooperation between the two countries is evident.

The session also explored opportunities to deepen cooperation in key sectors such as mechanical engineering, the automotive industry, green technologies, information and communication technology, pharmaceuticals, and food production.

During the plenary session of the Joint Intergovernmental Commission, Minister Dilov underscored the importance of institutional dialogue as a mechanism for structuring long-term policy initiatives.

The two ministers also officially opened the Bulgarian-Hungarian Business Forum, which brought together representatives of over 60 leading companies from both countries.