After nearly 50 years of absence, the Japanese Minister of Economy, Trade and Industry Nishimura Yasutoshi is visiting Bulgaria

Minister Nikola Stoyanov welcomed today at the Ministry of Economy and Industry a Japanese delegation led by the Minister of Economy, Trade and Industry of Japan Nishimura Yasutoshi. The Minister of Innovation and Growth Alexander Pulev also took part in the meeting.

"This visit, after an interruption of almost half a century, is a clear sign of the desire of our two countries to use more effectively the potential of the economic and trade relations between us," stressed Minister Nikola Stoyanov. He added that Bulgaria is well known in Japan for its yogurt, but there are a number of other sectors in which partnerships can be built.

Japanese investments in Bulgaria exceed 100 million euros, and the exchange of goods for the past year reached 325 million USD. e. "With more activity on both sides, we have all the prerequisites to increase these numbers," Minister Stoyanov said. During the talks, it was emphasized that there is significant potential for cooperation between the countries in the field of information and communication technologies, the automotive sector, the low-carbon economy, etc.

"Bulgaria wants to attract more Japanese investors in industry and in the high-tech production sectors, and our country can give access to the single European market," added the Bulgarian economy minister. In this regard, the creation of joint ventures in various fields with Bulgarian and Japanese participation was discussed, as well as the promotion of Bulgarian industrial zones among potential investors from Japan.

2023 marks 50 years since the beginning of the cooperation between "LB Bulgaricum" EAD and "Meiji", and Bulgarian yogurt is already known in other Asian countries, such as China, Thailand and Singapore, it became clear during the meeting. Minister Stoyanov informed his colleague that from this week a similar strategic partnership begins with Mongolia and emphasized that Japan has made a leading contribution to the success of Bulgarian products in Asia in recent decades. The creation of a joint research center in Bulgaria between "LB Bulgaricum" EAD and the Japanese "Meiji" was also discussed, the purpose of which is to carry out both fundamental and applied research. "More joint innovations in it will contribute to a higher level of our partnership in the 21st century," commented Nikola Stoyanov.

After the talks, Ministers Stoyanov and Yasutoshi signed a joint declaration from the meeting with an emphasis on the IT sector, trade and investment support, as well as cooperation between Bulgarian and Japanese businesses. "I hope that today we will lay the foundations for a more effective economic cooperation, and that the meetings between us will be annual", stressed Minister Stoyanov.

Minister Nishimura Yasutoshi expressed confidence that today's visit and the signing of the declaration opens a new page in economic relations between Japan and Bulgaria. According to the Japanese minister, Bulgaria has many trained personnel in the field of information and communication technologies and it provides great opportunities for joint initiatives and partnership. Minister Yasutoshi explained that he is in Bulgaria together with a business delegation, and the goal is to create more contacts at the business level and to have more Japanese companies look at Bulgaria.

Representatives of "LB Bulgaricum" EAD and "State Consolidation Company" EAD took part in the meeting.