Opportunities for expanding the cooperation between Bulgaria and the United Kingdom in the field of high technologies

The Minister of Economy and Industry Bogdan Bogdanov and the Ambassador of the United Kingdom of Great Britain and Northern Ireland to our country H.E. Dr Rob Dixon discussed the activation and reinforcement of economic relations between the two countries. 

They considered the potential and opportunities for partnership between Bulgaria and the United Kingdom in the field of trade, technology and microelectronics. Both sides agreed that these sectors are of great interest to companies from Great Britain and provide opportunities for enhancing and building up the cooperation between the two countries.

Ambassador Dixon pointed out that British companies are willing to establish cooperation with Bulgarian companies in the sector of high technologies.

Minister Bogdanov emphasized that the United Kingdom is one of the important trading partners of Bulgaria and both countries have a very good potential for development.

For the first three months of 2023, Bulgarian exports to Great Britain have increased by over 90%, amounting to 372.1 million euros. Total trade exchange for the quarter is EUR 625 million, soaring by over 127% compared to the same period in 2022.

Another opportunity minister Bogdanov highlighted was that Bulgaria could also serve as a connecting point between Europe and Asia. In his opinion, bilateral business forums and events organized in coordination with the British-Bulgarian Business Association will provide to Bulgarian companies the support they need to enter and develop on the British market.

Minister Bogdanov and Ambassador Dixon underlined there were even more occasions for partnership in the automotive sector, Fintech and the field of artificial intelligence, pointing out to INSAIT – The Institute for Computer Science, Artificial Intelligence and Technology – the first of its kind in Eastern Europe and already recognized by many large technological giants.

Another topic of the discussion was the process of Bulgaria's accession to the OECD and Minister Bogdanov declared that this accession is strategic for the country and a priority for the Government and added that Bulgaria will be even more operative in managing the membership criteria. Ambassador Dixon stated that our country has the total support of the UK in the process of joining the OECD.