site.btaMinisters Discuss Opportunities for Strengthening Bilateral Economic Relations in Tokyo

Economy and Industry Minister Petar Dilov met Japan’s State Minister of Economy, Trade and Industry Yuichiro Koga in Tokyo to discuss ways to deepen bilateral trade and economic cooperation, the press office of the ministry announced on Wednesday.

Bulgarian Ambassador to Japan Marieta Arabadzhieva and head of the Commercial and Economic Section of the Embassy Krasimir Ivanov attended the meeting.

Minister Dilov emphasized the significant potential for expanding trade and investment ties between Bulgaria and Japan. He underlined key opportunities for collaboration, particularly in high-tech industries. He said that Japan is a strategic economic partner for Bulgaria and reaffirmed the shared commitment to enhancing bilateral relations.

The two ministers explored prospects for increased cooperation in areas of mutual interest, including high technologies, innovation, energy, the automotive sector, healthcare, etc.

Minister Dilov pointed to the potential for Japanese investment in Bulgaria’s industrial zones, managed by the state-owned National Company Industrial Zones under the Economy and Industry Ministry. “The presence of Japanese companies in these zones would not only strengthen bilateral cooperation but provide strategic positioning in Europe,” he said. He added that Bulgaria’s recent accession to the Schengen Area and its forthcoming entry into the eurozone enhance the country’s economic stability, financial predictability, and connectivity within Europe, key factors that boost international investor confidence.

The two sides discussed Bulgaria’s progress toward joining the Organisation for Economic Co-operation and Development (OECD). “We count on Japan’s support, as a member of both the OECD and the G7, to help us achieve this important goal, which will further align our policies and standards with the world’s most advanced economies,” Dilov added.

As part of his working visit to Tokyo, Dilov and his delegation held talks with Susumu Kataoka, President of the Japan External Trade Organization (JETRO). The meeting took place at the headquarters of JETRO, a governmental body dedicated to promoting mutual trade and investment between Japan and the rest of the world.

Discussions focused on the organization of more business missions and visits to Bulgaria, facilitated by JETRO. “The reopening of JETRO’s office in Bulgaria would undoubtedly give new impetus to our economic partnership,” Dilov said.

Kataoka emphasized the strategic importance of establishing a JETRO office in Bulgaria as part of efforts to enhance cooperation between businesses in both countries. He expressed hope that this step would be realized in the near future.