Cabinet approves Draft Memorandum of Understanding between Bulgaria, Republic of Korea

The Government on 22 February approved a draft Memorandum of Understanding on cooperation in trade and investment promotion between Bulgaria’s Economy and Industry Ministry and the Republic of Korea’s Trade, Industry, and Energy Ministry.

The aim of the memorandum is to build a deeper intergovernmental partnership that will contribute to promoting policies of transparency and coherence, mitigating global risks, and building a sustainable, green, and stable economic system.

The document will facilitate cooperation in trade, investment, industry, supply chains, etc. The forms of cooperation may include encouraging companies and individuals to explore joint project opportunities, promoting cooperation between specialized entities and companies and the exchange of experts, scientists, and students, encouraging the participation of companies and individuals from both sides in international fairs and exhibitions, etc.

The memorandum will also contribute to a further exchange of information and experience between the two countries in the field of the economy, attracting Korean investments to Bulgaria and establishing business contacts and partnerships between companies from both countries.