Minister of Foreign Affairs and Trade Péter Szijjártó and Bulgarian Minister of Economy Bozhidar Lukarski signed a Hungarian-Bulgarian inter-governmental economic cooperation agreement on Thursday in Budapest.

After the signing of the document, Mr Szijjártó said: based on the agreement, a mixed economic committee will be set up between the two countries which will hold its first meeting in the first half of the year.

Bulgarian Minister of Economy Bozhidar Lukarski highlighted that the signed agreement broadens the framework of cooperation, and allows the two countries to take advantage of the opportunities arising from their respective geographical locations.

Photo: Márton Kovács/Ministry of Foreign Affairs and Trade

Mr Szijjártó reiterated that trade between the two countries increased by 14 per cent last year, and amounted to a record EUR 1.3 billion. Businesses conducted the highest Hungarian exports to Bulgaria of all time.

The Minister of Foreign Affairs and Trade said that a credit line worth EUR 370 million has been opened under the auspices of Exim bank for financing cooperation between Hungarian and Bulgarian businesses.

Mr Szijjártó also drew attention to the fact that a cooperation agreement has been reached between industrial parks, and as of 1 November, there will be a direct airline service between the two capitals: WizzAir will operate three flights a week between Budapest and Sofia. The airline will continuously station 10 aircraft in Budapest, and 6 in Sofia.

The Minister of Foreign Affairs and Economy highlighted that Bulgaria plays an important role in the energy security of Central-Europe. Hungary will engage in close cooperation with Bulgaria regarding the southern gas corridor, and the parties were pleased to acknowledge the European Commission’s positive approach to the Bulgarian-Romanian-Hungarian-Austrian gas conveyance route.

Photo: Márton Kovács/Ministry of Foreign Affairs and Trade

In recent months it has been ascertained that Bulgaria deserves to be a member of the Schengen Area, and Hungary will support that Bulgaria is granted zone membership within the shortest possible time, he added.

The Minister of Foreign Affairs and Trade takes the view that the migration crisis conveys enormous economic risks, and fundamentally jeopardises the survival of the Schengen Area. Should the Schengen Area fall apart, this would have inestimable, tragic consequences for the European economy, including that of Hungary, he said.

The Bulgarian Minister of Economy believes that the agreement entered into between the industrial parks of the two countries may serve as the basis for boosting economic growth.

Minister Bozhidar Lukarski takes the view that there is scope for cooperation in a number of fields, and spoke of the Hungarian dual vocational training system in terms of praise.

{Source: Government of Hungary – Ministry of Foreign Affairs and Trade}
[photo credits-featured image: BulgariaFront view of the Rousse Regional Historical Museum – By Aquarin at the English language Wikipedia, CC BY-SA 3.0,]
[intext photos: inserted by (credits embedded)]