Mr. Tsvetan Simeonov, President of the Bulgarian Chamber of Commerce and Industry (BCCI), together with the Deputy Minister of Economy Doncho Barbalov and representatives of Bulgarian companies with strong interests in the Gulf region, visited Kuwait this week.
The first meeting during the visit took place at the Kuwait Chamber of Commerce and Industry (KCCI), where Mr. Simeonov and the Bulgarian business representatives met with Mr. Emad Al-Zaid, Vice Director General of KCCI, to discuss opportunities for new business partnerships.
The sectors that attracted the most attention during the meeting included information technology, artificial intelligence, software solutions, food industry, tourism, trade, and investment.
Mr. Simeonov reaffirmed the excellent relationship between the BCCI and its counterpart organization in Kuwait and extended an invitation for Kuwaiti companies to visit Bulgaria.
“The business environment in Bulgaria is highly favorable, with a 10% corporate tax rate, investor incentives, and low operational costs,” he said. “Excellent connectivity with EU countries and strong relations with other regions also make Bulgaria an attractive destination for international business.”
The Kuwaiti hosts noted that Bulgarian dairy products and essential oils are well known in Kuwait. Given the country’s limited industrial base, Kuwait imports a wide range of goods — an excellent opportunity to expand trade and economic relations with Bulgaria, emphasized Mr. Al-Zaid.
Deputy Minister Barbalov also took part in the meeting, highlighting the opportunities Bulgaria offers for strengthening the bilateral economic and investment cooperation.
“May this meeting serve as a solid foundation for strengthening our relationship,” he stated.
He underlined the need for more active contacts between the two countries and the resumption of the Joint Commission for Trade and Economic Cooperation.
For his part, Mr. Emad Al-Zaid emphasized the importance of promoting investment in the hospitality sector, as well as increasing the availability of traditional Bulgarian products in the Kuwaiti market.
Participants also noted that the resumption of direct flights between Bulgaria and Kuwait would play a key role in stimulating business relations and tourism exchange between the two countries.
Bulgarian entrepreneurs introduced their companies and presented their products, services, and partnership opportunities to the Kuwaiti companies.
The heads of the two chambers agreed on the intention to organize a visit of a Kuwaiti business delegation to Bulgaria, to hold exhibitions of Bulgarian goods in Kuwait and Kuwaiti products in Sofia, and to renew the Memorandum of Cooperation between the two chambers.
Ahmad Alaedin, President of the Association of Bulgarian–Arab Chambers, who also took part in the delegation, noted that Bulgaria’s relations across the Gulf region have a long-standing and positive tradition, but need to be further strengthened.
The delegation also participated in the 9th EU–Gulf Cooperation Council Business Forum, held in Kuwait this week.
The visit was organized with the support of the Embassy of Bulgaria in Kuwait and the Embassy of Kuwait in Sofia.