Hungary secures maritime access in Bulgaria
Hungarian Minister for National Economy Signs Agreements in Bulgaria
The Hungarian Minister for National Economy, Márton Nagy, recently visited Bulgaria to strengthen cooperation in various areas such as tourism, defense, and business. During his visit, Minister Nagy met with President Rumen Radev, Deputy Prime Minister and Minister of Transport and Communications Grozdan Karadjov, Minister of Economy Peter Dilov, and Minister of Tourism Miroslav Borshosh.
The Ministry for National Economy announced that Minister Nagy signed cooperation agreements with Bulgarian officials, focusing on defense and economic collaboration. One of the key agreements includes the establishment of a simplified logistics and transport corridor that will connect Hungarian businesses with Bulgarian ports and free zones in the Black Sea, providing a sea exit for the Hungarian economy.
Moreover, the parties aim to develop a long-term strategic partnership in the defense industry, focusing on defense manufacturing and supply chain optimization. The signed agreements are expected to deepen and strengthen Hungarian-Bulgarian relations and foster mutual growth in various sectors.
The tourism cooperation agreement signed during the visit intends to enhance collaboration between tourism businesses and organizations in both countries. The agreement includes initiatives to promote tourism, explore opportunities in health tourism, develop educational programs in the tourism sector, and share knowledge on statistical data collection.
Additionally, the parties will work together to facilitate direct contacts between Hungarian and Bulgarian tour operators, agencies, and tourism associations. This collaboration is expected to boost tourism activities and exchange between the two nations.
In related news, Hungary’s plans to build a seaport in Trieste, Italy, have been progressing. With a concession agreement in place, Hungary acquired a section of the Italian port for 31 million euros and entrusted the development of the Hungarian seaport to Adria Port Zrt, a state-owned enterprise. The operations at the seaport are anticipated to commence in 2026, further expanding Hungary’s economic reach.
Overall, the agreements signed during Minister Nagy’s visit to Bulgaria mark a significant milestone in enhancing bilateral cooperation and expanding opportunities for economic development and tourism between Hungary and Bulgaria.
