The Ambassador of the Republic of Korea: We Put Emphasis on the Initiative to Raise Bilateral Relations to the Level of Strategic Partnership

H.E. Dong-be Kim, Ambassador of the Republic of Korea in Sofia, together with representatives of the Embassy and of the Korean Trade and Investment Promotion Agency (KOTRA) in Sofia, visited BCCI and held a meeting with its President Tsvetan Simeonov. During the conversation, they discussed the capacities for expanding the trade and economic cooperation between Bulgaria and the Republic of Korea.

The President of BCCI emphasised that Korea is an important strategic partner of Bulgaria in East Asia, distinguished by its high-tech manufacturing and strategic geographical location. He noted the good cooperation between the Chamber and the Korean Chamber of Commerce and Industry and with the Commerce and Industry Chamber of the Republic of Bulgaria and the Republic of Korea.

Ambassador Dong-be Kim emphasised the initiative to raise the bilateral relations to the level of strategic partnership, which lays a broader foundation for strengthening the economic ties. The priority areas for development included - as standing out - construction and the implementation of large infrastructural projects, the defence industry, tourism and wine production, among others.

The meeting also discussed the renewal of the Agreement for Cooperation between BCCI and the Korean Commercial arbitration court, signed in 1991. The Chamber President informed that the Arbitration Court at BCCI is the first institutional arbitration court, entered in the Arbitration Courts Register at the Ministry of Justice of the Republic of Bulgaria, and emphasised that the introduced requirement for registration sets out clear rules and guarantees for transparency and legitimacy.

The parties also discussed some forthcoming initiatives of KOTRA in Sofia, including the organisation of bilateral business meetings with Korean companies at the end of the year. BCCI will inform timely its members and partners about the possibilities for participation in the forthcoming events.