site.btaMinister Georgiev Attends Bulgarian-Egyptian Business Forum in Cairo

At the opening of a business forum in Cairo on Thursday, Foreign Minister Georg Georgiev stressed on the importance of joint efforts and an effective economic dialogue between Bulgaria and Egypt. Bulgaria plays an active and important role in the European Solidarity Corridor initiative, which guarantees secure routes for the export of agricultural products from the Black Sea region to Egypt and other African countries at fair and affordable prices, said the line ministry in a press release. 

The Minister is on a two-day official visit to Egypt. He opened the joint Bulgarian-Egyptian business forum in Cairo, which marks a new stage in the development of economic relations between Bulgaria and the Arab Republic of Egypt.

The event was organized with the active assistance of Bulgarian Chamber of Commerce and Industry (BCCI), Egyptian Federation of Chambers of Commerce and the Confederation of Egyptian European Business Associations (CEEBA). The forum brought together over 160 Bulgarian and Egyptian companies from strategic sectors such as food and beverage, agriculture, transport, IT, textiles and defence industry.

Minister Georgiev opened the forum together with the Minister of Supply and Internal Trade of Egypt Dr. Sherif Farouk and with the participation of the Minister of Planning, Economic Development and International Cooperation Dr. Rania Al-Mashat and the Deputy Prime Minister and Minister of Industrial Development and Transport, Lieutenant General Kamel Al-Wazir. On the part of the trade associations, the forum was opened by the Secretary General of CEEBA and the Federation of Egyptian Chambers of Commerce Mr. Alaa Al-Ezz and the Deputy Chairman of BCCI Dr. Veselin Todorov.

In his speech, Minister Georgiev also said that the forum is logical continuation of the intensified political dialogue between the two countries and serves as a concrete tool for deepening the partnership in trade, investment and industrial cooperation.

In 2024, bilateral trade reached a record USD 1.81 billion, a growth of 41% compared to the previous year, which confirms Bulgaria as the eighth most important trading partner of Egypt among EU member states. Bulgaria also ranked among the leading exporters of wheat to Egypt, with a 60% increase in volumes compared to the previous year.

The possibilities for expanding investment cooperation were also discussed, as well as the growing presence of Bulgarian IT and outsourcing companies in the country.

The forum was also used to announce the upcoming Second Session of the Joint Commission for Economic Cooperation and the establishment of a Joint Business Council, which will contribute to a more structured and long-term development of bilateral economic relations.

Earlier in the day, Minister Georgiev held a meeting with Dr. Karim Darwish, Chairman of the Foreign Affairs Committee of the Egyptian House of Representatives. During the conversation, Bulgaria’s high regard for the traditional friendly relations with Egypt was expressed. Within the framework of the developing strategic and comprehensive partnership between Egypt and the European Union, Bulgaria would like to encourage more active inter-parliamentary dialogue and cooperation as a complement to the already existing political exchange.

The two sides also discussed important issues on the international agenda. Minister Georgiev expressed recognition of Egypt’s key role in ensuring security and stability in the region and in seeking sustainable solutions to regional crises.

The possibilities for activating the parliamentary dialogue as an important element of the development of bilateral relations were at the centre of the talks between Minister Georg Georgiev and the Chair of the Committee on Foreign Relations of the House of Representatives of the Egyptian Parliament, Hanafy Gebaly. Minister Georgiev informed his host that the formation of a parliamentary friendship group with Egypt is expected in the Bulgarian Parliament, which would give impetus to inter-institutional cooperation.

Minister Georgiev's visit will continue with meetings with the Prime Minister and the Foreign Minister of the country, the statement said.