Bulgaria has the potential to be a leading producer and exporter of the fuel of the future - green hydrogen, the President said at a business forum in Abu Dhabi
The Memorandum of Strategic Partnership between Bulgaria and the United Arab Emirates opens the prospect of transforming political will and trust at the top level into new opportunities for cooperation and partnership in important areas of mutual interest - economy, investment, energy, trade, digital and green technologies, urban planning. This is what Head of State Rumen Radev told journalists in Abu Dhabi. The Bulgarian President opened a business forum in the UAE capital today, which was attended by representatives of companies from both countries.
The forum is being held within the official visit of the Bulgarian Head of State to the UAE at the invitation of the President of the country and Ruler of Abu Dhabi H.H. Sheikh Mohamed bin Zayed Al Nahyan. A Memorandum of Strategic Partnership between Bulgaria and the United Arab Emirates was signed in the presence of the two. The agreement will foster cooperation in a wide range of areas, including economy, trade, investment, tourism, education, digital technology, culture, youth and sports.
The invitation for this visit and the desire to resume dialogue at the top political level is an indication of the increased trust in Bulgaria and interest in the growing economic opportunities of our country, Rumen Radev told journalists in Abu Dhabi after the forum. He added that the meeting with the UAE President gave additional impetus to the development of partnership in various areas of mutual interest. Apart from the strategic partnership agreement, a number of bilateral documents of understanding were signed today in the fields of education, science and culture, information exchange, tourism, agriculture, defence industry. The President expects that the solid foundation laid by the caretaker government in our bilateral relations will be quickly built upon by the next regular cabinets in Bulgaria.
The Bulgarian Head of State also pointed out that within the framework of his visit to Abu Dhabi, opportunities for energy diversification, import of natural gas and oil from the UAE were discussed, but this does not exhaust the potential of the bilateral partnership in the energy sector and Bulgaria should have higher goals. We need to get out of the paradigm that we are a country that transfers foreign gas to other countries. Bulgaria also has the technology and scientific potential, natural resources and industrial base to produce in huge quantities the fuel of the future - green hydrogen, and to export it, Rumen Radev added. The Bulgarian delegation also includes representatives of the business and scientific circles working in the field of green hydrogen production.
Our country can be not only a good economic partner, but also a serious factor in building stronger ties between the Gulf States and the European Union, Rumen Radev said. In his words, Bulgaria can contribute to the sustainable cooperation between Europe and the Arab countries, thanks not only to its strategic geographical position, but also because of the accumulated political, economic and scientific potential.
Bulgaria should not limit its ambition to seeking only new investments, but strive for new partnerships, Rumen Radev said. In the President's words, facing global and regional challenges, Bulgaria and the UAE can develop mutually beneficial cooperation if they pool their potential - both economically and in the spheres of science and education.
At the business forum, the President highlighted this country's advantages, including qualified personnel, macroeconomic stability, and business-friendly conditions of the tax system. Radev added that Sofia has a leading role in the start-up sector, financial services and fintech industry, and the largest industrial zone in the Balkans is located in Bulgaria.
Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, was also also present at the opening of the forum. The event, organised by the Abu Dhabi Chamber of Commerce, was attended by nearly 20 representatives of leading Bulgarian companies in high value-added sectors such as information and communication technologies, high-tech manufacturing, energy, innovation and the defence industry.
Earlier in the day, the President paid his respects at the Memorial to all who are killed in the line of duty and visited the White Mosque in Abu Dhabi. The Bulgarian Head of State is to be received by UAE President and Ruler of Abu Dhabi, H.H. Sheikh Mohamed bin Zayed Al Nahyan, at an official ceremony at the Presidential Palace in Abu Dhabi.