Minister Dilov: Germany is Bulgaria's leading foreign trade partner. German companies' investments in Bulgaria are 4.4 billion euros

Germany is a strategic partner of Bulgaria. A leader in both trade and investment. This was stated by the Minister of Economy and Industry, Petar Dilov, during the presentation of the Annual Awards of the German Economy in Bulgaria for 2024. The ceremony was organized by the German-Bulgarian Chamber of Industry and Commerce (GBIC) and was held at the University of National and World Economy (UNWE). The event was also attended by the Ambassador of Germany to Bulgaria - H.E. Irene Planck, Tim Kurt - President of GBIC, as well as representatives of the business and business communities from both countries.

Minister Dilov emphasized that the Ministry of Economy and Industry will continue to provide full support for the development of bilateral cooperation. "It is important for us to restore confidence in Bulgaria as a reliable economic partner and a promising location for investments and business," he said.

The Minister of Economy pointed out that bilateral trade has been increasing traditionally over the past 10 years and in 2023 reached record levels, with the good development continuing in 2024, despite the crisis processes.

Dilov announced that serious investment projects by German companies have been implemented in Bulgaria and cited BNB data, according to which total German investments in Bulgaria amount to 4.4 billion euros. He defined German companies as reliable and long-term investors.

"In the dynamic and changing environment, it is important for all of us to build even more stable partnerships and open up new opportunities for business on both sides," he pointed out.

The Minister of Economy and Industry assured that the government will implement policies to support investors and ensure a transparent and stable business environment. "We will work to preserve the economic and financial stability of the country and to increase the competitiveness of the Bulgarian economy," he added.

According to him, Bulgaria's full membership in the Schengen area will also contribute to facilitating trade relations and expanding the partnership between business representatives from both countries.

The German-Bulgarian Chamber of Industry and Commerce presented the German Economy Awards in Bulgaria for the 21st time. Minister Dilov presented the grand prize in the category "Large Enterprise with an Innovation Focus" to SAP Labs Bulgaria. The German software giant is a global leader in the development of business software, and the company's Bulgarian office employs already 2000 people.