Minister Georg Georgiev: “Bulgaria and Saudi Arabia Have Considerable Untapped Potential for Economic Partnership”
01 October 2025 News
“Bulgaria and Saudi Arabia have considerable untapped potential for economic partnership, which we can and should turn into concrete joint projects of mutual benefit to our citizens and businesses.” This was stated by the Minister of Foreign Affairs, Mr. Georg Georgiev, during his meeting with His Excellency Mr. Faisal bin Fadhil Alibrahim, Minister of Economy and Planning of the Kingdom of Saudi Arabia, held within the framework of the Munich Leaders Meeting in the city of AlUla.
The two ministers discussed bilateral economic relations and investment cooperation, emphasising the importance of Saudi Arabia’s dynamic economic development.
“Saudi Arabia’s modernisation efforts are an outstanding example for Bulgaria in economic terms, and Bulgaria’s support for Riyadh’s bid to host EXPO 2030 is a clear sign of the importance we attach to our bilateral relations, including in the fields of economy and technology,” noted Minister Georgiev.
During the discussion, the two sides underlined the significance of the upcoming first meeting of the Joint Committee for Economic Cooperation between the two countries. The ministers discussed the possibility of signing key memoranda in the areas of economy, energy, mineral resources, education and sport.
“Bulgaria believes that holding a joint business and investment forum in parallel with the Joint Committee will add further value and open new horizons for partnership with Saudi Arabia,” Bulgaria’s chief diplomat noted.
Energy, defence and security, as well as high technologies, were highlighted by the Bulgarian side as priority areas for future cooperation. Bulgaria expressed interest in attracting Saudi investment in research and development, mechanical engineering, electronics and the chemical industry. “Bulgarian companies can be reliable partners for Saudi Arabia in a number of areas. There are excellent prospects for the export of high-quality Bulgarian goods and products,” stated Minister Georgiev.
For his part, Minister Alibrahim identified energy, defence and security, as well as healthcare, as potentially significant areas of interaction between Bulgaria and Saudi Arabia. “We have the opportunity to explore new prospects for cooperation in the energy sector, as well as in the fields of defence and security, where we are investing considerable resources, including in the development of advanced technologies and the production of unmanned aerial vehicles. Healthcare is also a sector in which we can share expertise and highly qualified personnel,” noted Minister Alibrahim.
In conclusion, Georg Georgiev and Minister Alibrahim expressed confidence that the development of economic ties between Bulgaria and Saudi Arabia will strengthen the partnership between the two countries and create new opportunities for cooperation in key sectors of mutual interest.
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