site.btaPresident Radev: Bulgaria Can Help Upgrade EU's Ties with Persian Gulf Countries

In addition to a good economic partner, Bulgaria can also be a major factor for building more solid relations between the Persian Gulf countries and the European Union, President Rumen Radev told journalists in Abu Dhabi on Thursday during his visit to the United Arab Emirates which will continue until Friday.

Radev opened a business forum involving companies from the two countries active in high technology and innovation, transport, information and communications, energy and defence.

The President said Bulgaria is considering opportunities for energy diversification by importing natural gas and oil from the UAE, but the potential of bilateral partnership goes far beyond that. He argued: "Bulgaria needs to set itself higher goals. We need to reach beyond the paradigm which casts us as a country transporting others' gas to other countries. We can use high technology, scientific potential and natural assets to produce the fuel of the future: green hydrogen, huge amounts of it, and export it."

Promoting Bulgaria's political dialogue with the UAE at the highest level, bilateral cooperation in the field of energy and economy, opportunities for investing in the Bulgarian economy and carrying out joint projects, and updating the regulatory framework of bilateral ties are among the highlights of Radev's visit.

Radev further said at the business forum, as quoted by his Press Secretariat, that Bulgaria has the potential to be a leading producer and exporter of green hydrogen. In his words "Bulgaria has the technology and scientific potential, natural resources and industrial base to produce in huge quantities the fuel of the future, green hydrogen, and to export it". 

The Bulgarian delegation in Abu Dhabi, also includes representatives of the business and scientific community working in the field of green hydrogen production.

The President said that the Memorandum of Strategic Partnership between Bulgaria and the United Arab Emirates opens up prospects for transforming political will and trust at the highest level into new opportunities for cooperation and partnership in important areas of mutual interest: economy, investment, energy, trade, digital and green technologies, urban planning. In addition to the strategic partnership agreement, a number of bilateral documents of understanding are to be signed today in education, science and culture, information exchange, tourism, agriculture and defence. The President expects that "the solid foundation laid by the caretaker government in bilateral relations with the UAE will be quickly built upon by the future governments in Bulgaria", said the Presidential Press Secretariat.

During the business forum, the President highlighted Bulgaria's advantages, including skilled workforce, macroeconomic stability, business-friendly tax system. He added that Sofia has a leading role in the start-up sector, financial services and fintech industry, while the largest industrial zone in the Balkans is in Bulgaria.

The business forum was organized by the Abu Dhabi Chamber of Commerce and was attended by some 20 representatives of leading Bulgarian companies in high value-added sectors such as ICT, high-tech manufacturing, energy, innovation and the defence industry.

Earlier in the day, President Radev paid tribute at the Wahat Al Karama Memorial in Abu Dhabi to the fallen Emirati soldiers in the line of duty.