NEWS

At a Business Forum in Sofia Presidents Radev and Anastasiades Confirmed Bulgaria’s and Cyprus’s Support for a Follow-up Promotion of Bilateral Trade and Investment Exchange

Bulgaria’s and Cyprus’s common goal of expanding partnership in the areas of economy, energy and tourism and promoting cohesion seems increasingly more attainable. This is what President Rumen Radev said, who together with his Cypriot counterpart Nicos Anastasiades opened a Bulgarian-Cyprus business forum in Sofia. The Cypriot Head of State is on an official visit to Bulgaria at the invitation of the Bulgarian President. The business forum was attended by companies from Cyprus with an interest in the sphere of transport infrastructure, investments in the aviation sector, management of real estate, warehouse activities, consultancy services, the production of electrical engineering, and was also attended by their Bulgarian partners.

In the presence of the Presidents of Bulgaria and Cyprus, a Cooperation Agreement between the Bulgarian Chamber of Commerce and Industry (BCCI) and the Cypriot Chamber of Commerce and Industry (CCCI) was signed, and also a Cooperation Agreement between the BCCI and the CCCI in the event of settlement of trade disputes and a Memorandum of Understanding between the Cyprus-Bulgaria Business Association and the Bulgarian-Cypriot Business Association.

In Rumen Radev’s words, the sustainable growth of trade between Bulgaria and Cyprus and the business forum in Sofia are steps towards deepening the mutually-beneficial cooperation. The Head of State called on the businesses from the two countries to consider things beyond trade, to pay attention to launching joint enterprises and exporting to third markets, to the joint development of new technologies. “The EU’s future, the conditions for success of every country in the Green Deal, lie in developing new technologies,” the Head of State said.

The Head of State highlighted as particularly promising areas of expanding the trade partnership not only construction, real estate and agriculture,  but also the financial technologies industry and start-ups, in which Bulgaria is a leading country in East Europe not only in terms of the number of companies, but also in terms of the essence of the launched projects. Rumen Radev also noted the role of the excellent relations between Bulgaria and Cyprus and the mutual political trust at all levels and called on the Bulgarian and Cypriot companies to use this solid basis for expanding trade and investment exchange.

Bulgaria and Cyprus have been long connected by strong friendly ties, based not only on the geographical proximity, but above all on the shared principles and values, Cypriot President Nicos Anastasiades said in his address.  In his words, both countries show a strong will to further strengthen the excellent bilateral relations and expand the economic relations.  Cyprus remains one of the biggest investors in Bulgaria with more than 2 billion euros investments, which indicates the strong basis of our bilateral cooperation, Nicos Anastasiades emphasized. In his words, excellent prospects are established in the sphere of tourism and trade. 

Later Head of State Rumen Radev and his Cypriot counterpart Nicos Anastasiades together with their wives opened a photo exhibition dedicated to the 60^th anniversary of establishing diplomatic relations between Bulgaria and Cyprus. The event was attended by 54 heads of diplomatic missions in Bulgaria.

Bulgaria is among the first countries that established diplomatic relations with Cyprus, Rumen Radev said and added that this is an expression of the close historical ties between the countries. “Our nations passed through a lot of challenges, yet despite all this, we share compassion, mutual support and solidarity in hard times,” the Bulgarian President said.