site.btaTrade between Bulgaria, United Arab Emirates Up 6% in 2024 Y/Y

Trade between Bulgaria and the United Arab Emirates (UAE) increased 6% in 2024 year-on-year, reaching USD 257.7 million, said the Economy Ministry Monday after a meeting between Economy Minister Peter Dilov and UAE Ambassador to Bulgaria Abdulrahman Ahmed Aljaber. 

The two officials discussed boosting bilateral economic and trade relations and attracting Emirati investments to Bulgaria. The UAE Ambassador noted that the two countries have the potential to double their trade volume.

They also discussed preparations for the first session of the Joint Commission for Economic Cooperation, which they said would be a strong platform to deepen contacts and strengthen economic cooperation.

Dilov and Aljaber reviewed the upcoming Agreement on the Promotion and Mutual Protection of Investments. They agreed that it would help increase investment flows by creating a more favorable environment for doing business.

"The UAE is an important and promising partner for Bulgaria," Dilov said. He added that there are broad opportunities to deepen and diversify cooperation in trade, investment, tourism, and agriculture.

During the meeting, it was also noted that there is significant potential for Bulgarian exports to the UAE, including high-quality food and agricultural products, pharmaceuticals, cosmetics, IT solutions, machinery, electronics, and electrical equipment.