NEWS

President: Bulgaria and Japan Are Inheritors of Rich Historical and Cultural Traditions, and Today They Share a Common Desire for High-Tech Development

Bulgaria and Japan are inheritors of rich historical and cultural traditions, and today they share a common desire for high-tech development. This was stated by President Rumen Radev during a meeting with owners and representatives of leading Japanese companies in the fields of transport, construction, the food industry, information technology, the film industry, tourism, culture and art, as well as the local government in Japan. The Japanese ambassador to our country, H. E.  Hisashi Michigami, also took part in the talks.

The head of state praised the interest shown by the Japanese side in getting to know Bulgaria's investment and trade potential, as well as in holding meetings between Japanese business representatives and prospective Bulgarian partners. Radev expressed the ambitions of our country to attract investments in the field of high technologies and industries with high added value, such as Japan is already developing in our country, highlighting Bulgaria's advantages in this regard, including highly educated and qualified human potential, and favourable macroeconomic tax conditions.

The President recalled his visit to Japan in 2019 to attend the enthronement of Emperor Naruhito, after which a Bulgarian-Japanese business forum was held in Sofia on the initiative of the presidential institution. It was attended by representatives of Bulgarian business, the academic community and heads of Japanese corporations with a total annual turnover of more than USD 390 billion, including the Mitsubishi Corporation, SEGA Games, Murata Manufacturing, Takeda. Then the idea of creating a Japan-Bulgaria Business Association (JBBA) arose, the head of state recalled and expressed confidence that the organisation will contribute to releasing the unused potential for cooperation between the two countries.

In the first six months of 2024, the total trade between Bulgaria and Japan reached USD 124.1 million, with exports worth USD 37.9 million, with imports from Japan amounting to 86.2 million. There is an increase in Bulgaria's exports to Japan, which is due to the growth in the production of integrated circuits and electronic micro-assemblies in our country, as well as chemical products. In imports from Japan, the leading positions are occupied by the automobile industry.

The international exhibition Expo 2025 in Osaka, in which the participation of innovative Bulgarian companies is also planned, is also an occasion for Bulgaria and Japan to deepen their partnership, was a common position during the meeting. The Japanese side welcomed the opportunity for the head of state to visit Japan in connection with the exhibition.

The Japanese business expressed respect for the achievements of Bulgarian culture and art, as well as readiness to support the restoration of the International Ballet Festival in Varna. Among the topics discussed were the planned implementation of Japanese film productions in our country, as well as the ambitions to present in Sofia a world-famous exhibition of Japanese ceramic art, which is currently on a European tour in Italy, France and Germany.

The famous Bulgarian sumo wrestler Kaloyan Mahlyanov - Kotooshu Katsunori, who has been living in Japan for years, took part in the meeting. From the Japanese side, it was stated that Kotooshu made a great contribution to the high interest in Bulgaria in Japan, and the head of state pointed out that our country is proud that a Bulgarian has achieved significant success in a sport that embodies Japanese traditions and culture, which also contributes to the expansion of cooperation between the two countries.