NEWS

President Radev: Implementation of Bilateral Agreements for the Development of Connectivity between Bulgaria and Hungary Is an Investment in the Economic Development of the Two Countries

The Head of State receives Hungary's Minister of National Economy

The implementation of the bilateral agreements on the development of connectivity between Bulgaria and Hungary is an investment in the economic development of both countries and has a stabilising effect on the region. This is what Head of State Rumen Radev said today at a meeting with the Minister of National Economy of Hungary Marton Nagy, who is on a visit to Bulgaria. The talks were attended by the CEO of N7 Holding Ltd, Ferenc Antal, who is also Deputy State Secretary of Hungary's Ministry of National Economy, representatives of the Hungarian Tourism Agency and Hungary's Ambassador to our country Miklos Boros.

The focus of the meeting was on the prospects for further intensifying the ties between Bulgaria and Hungary in areas of mutual interest against the background of the two draft memoranda between the two countries adopted by the Council of Ministers in January - on the establishment of a long-term strategic partnership in the defence industry and the transport sector and on the deepening of bilateral cooperation in the tourism sector. There was a common position that the two documents would give a new impetus to the economic interaction between Bulgaria and Hungary, providing expanded opportunities for cooperation and building on the bilateral partnership.

The Head of State and the Minister of National Economy of Hungary highlighted the importance of the memoranda as a basis for future cooperation in transport and logistics. In this context, Rumen Radev highlighted Bulgaria's competitive advantages related to its strategic location. President Radev highlighted the potential of our ports in Varna and Burgas and underlined their strategic importance in the transport corridors between Europe and Asia. The possibility of making more active use of the Danube as a transport corridor between Bulgaria and Hungary through our port in Ruse, which also has a rail link with the port of Varna, was also discussed. Strategic pan-European transport corridors pass through Bulgaria's territory and our country is working to expand them further, the Head of State also noted.

Emphasis was also placed on bilateral cooperation in areas with development potential. Among them, the defence industry, tourism, investment, energy, etc. were highlighted.

At the meeting, the Head of State highlighted Hungary's role in the process of Bulgaria and Romania's accession as full members of the Schengen area. Rumen Radev stressed that this provides new economic opportunities for both our country and the European Union.