- In recent years, cooperation has shown sustainable momentum – a fourfold increase in trade turnover and a 90% rise in Bulgarian investments in Kazakhstan in 2024.
- "Bulgaria is one of Kazakhstan’s key trade and economic partners in Southeast Europe," stated Serik Zhumangarin, Deputy Prime Minister of Kazakhstan.
The Bulgarian Chamber of Commerce and Industry (BCCI) organized the Bulgarian- Kazakhstani Business Forum within the framework of the Fifth Session of the Joint Bulgarian-Kazakh Intergovernmental Commission, held in Sofia this week.
Krasimir Dachev, Vice President of BCCI, welcomed the participants together with Petar Dilov, Minister of Economy and Industry of Bulgaria, and Serik Zhumangarin, Deputy Prime Minister and Minister of National Economy of Kazakhstan.
Mr. Dachev emphasized that the oldest business organization in Bulgaria maintains excellent partnership relations with business associations in Kazakhstan. He noted that 23 companies with Kazakhstani capital are registered at BCCI, and the trade representations of Kazakhstani companies in Bulgaria are 330. He highlighted the undeniable growth in the bilateral trade in 2024 but also pointed out there is a potential for an increase of the Bulgarian exports to Kazakhstan and the promotion of more investment.
Minister Dilov stated at the forum’s opening that the Bulgarian government is confident in the prospects for developing relations with Kazakhstan and sees multiple areas of mutual interest that can be further encouraged through active dialogue between official institutions and the business communities of both countries. He emphasized that Bulgaria is a reliable economic partner, a regional leader in financial stability, macroeconomic performance, and credit rating. The country offers one of the lowest tax rates in Europe and the lowest operational costs within the EU. These conditions have been recognized by numerous leading international companies that operate successfully and continue to expand their activities in Bulgaria.
During the forum, Deputy Prime Minister and Minister of National Economy of Kazakhstan Serik Zhumangarin stated that Bulgaria is one of Kazakhstan’s key trade and economic partners in Southeast Europe. He noted that bilateral cooperation has shown steady progress across nearly all sectors. In 2024, mutual trade volume increased fourfold, exceeding USD 375 million. The Bulgarian companies have invested around USD 8 million in Kazakhstan’s economy—an increase of 90% compared to the previous year.
Zhumangarin highlighted areas of cooperation with Bulgaria such as the agro-industrial complex, transportation, industrial collaboration, mineral extraction, and others.
The Fifth Session of the Joint Bulgarian-Kazakhstani Intergovernmental Commission concluded with the signing of a bilateral protocol to enhance economic cooperation across various sectors.