28 November 2025 | 15:03
In his speech, the president pointed out that Bulgaria highly values its relations with Iraq, which is an important partner in the Middle East region
NEWS
President Rumen Radev and Saudi Foreign Minister discuss economic modernisation and energy diversification
2022-05-26 17:38:00
President Rumen Radev and the visiting Minister of Foreign Affairs of the Kingdom of Saudi Arabia, Prince Faisal bin Farhan Al Saud, discussed the prospects for deepening cooperation in the field of high technologies and their application in the energy and security sectors.
Radev and Faisal bin Farhan Al Saud noted the excellent bilateral relations, which had the potential to build on in a number of sectors of mutual interest. In 2021, bilateral trade saw a significant growth of nearly 90% and reached USD 313.2 million compared to the previous year, while Bulgarian exports increased by 96% and amounted to USD 233.8 million, the head of State said, pointing out that the exchange of goods was an optimistic sign for fostering cooperation.
The President stressed that Bulgarian companies had the capacity to take part in the implementation of the goals set out in Saudi Arabia's strategic plan for economic development and modernisation, Vision 2030. Rumen Radev and Faisal bin Farhan Al Saud agreed that the transition to a climate-neutral industry should take place with predictable steps to ensure the competitiveness and stability of the economy. Diversification of energy sources and achieving a circular economy and green energy production were also among the topics of discussion.
MORE FROM NEWS
24 November 2025 | 19:07
Taking advantage of their geostrategic position, Bulgaria and Georgia have the potential to deepen their connectivity in various areas such as transport, energy, and the digital sector, which will contribute to promoting the economy, investment, and prosperity in the Black Sea region. This was stated by President Rumen Radev, who held a meeting with the Speaker of the Parliament of Georgia, Shalva Papuashvili.
13 November 2025 | 14:02
The two were unanimous that restoring peace in Europe through diplomacy is a priority for the EU and the only way to ensure the long-term security and stability of the Old Continent.
12 November 2025 | 14:02
The President recalls that the institution of the Special Commercial Administrator (SCA) was introduced by an Act adopted in 2023, which also established a number of safeguards against potential abuse and arbitrariness — safeguards of the kind already adopted in other European states faced with similar circumstances, with the objective of minimising the risk of subsequent financial claims against the State