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President Radev: Japan is Bulgaria's Key Partner in Eastern Asia

Japan is Bulgaria's key partner in Eastern Asia, not only by way of economic and trade cooperation,  but most of all for the opportunities it represents: we have already attracted Japanese investment, and we are glad that they  are in the high technology and other sectors with high added value. This was the message of President Rumen Radev on Wednesday in his office during a meeting with representatives of  leading Japanese corporations and Bulgarian businessmen.

The main topic on the agenda was the opportunities for expanding  the investment cooperation between the two countries.

President Radev invited the Japanese businessmen to draw on the experience of Japanese companies who have already invested in Bulgaria, and see for themselves that this country does provide excellent business conditions: a strategic location, economic opportunities, a motivated young workforce. Radev also invited the Bulgarian businessmen at the meeting to make the most of this unique opportunity to cooperate with Japanese companies and  corporations whose annual turnover exceeds 390 billion dollars.

Minister of Economy Emil Karanikolov pointed out that Japan is a  pillar of stability for Bulgaria in Eastern Asia, and that Bulgaria has become a pillar of stability on the Balkans over the recent years. He also praised Bulgaria's macroeconomic and financial stability. According to Karanikolov, this country's main advantages are the low taxes and operation costs, the qualified workforce, and the legislature encouraging investments.

Petar Kunev, chair of the economic policy and tourism committee in Parliament, pointed out that the exchange of goods between Bulgaria and Japan does not correspond to the economic potential  of the two countries, and it could be developed further, especially in the tourism sector.

Japan's Ambassador to Bulgaria Masato Watanabe said that the business relations between Japan and Bulgaria not only generate profit for the companies of both countries, but also have the potential to grow beyond their borders. According to him, Bulgaria is considered a valuable business hub and access point by Japanese companies who are opening trade channels to the Western Balkans and the EU.


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