OPEN// Bulgarian FM praises Egypt's strategic ties with EU and strong role in regional stability
CAIRO, May 23 (MENA) - Bulgarian Foreign Minister Georg Georgiev lauded Egypt's enduring role as a cornerstone of regional stability, citing its balanced diplomacy, wise crisis management, and pivotal contributions amid the ongoing Gaza conflict.
In an exclusive interview with the Middle East News Agency (MENA) before departing Cairo, Georgiev commended Egypt's relentless efforts toward achieving peace, its mediation to de-escalate tensions, prevent regional spillover, secure a Gaza ceasefire—in coordination with Qatar and the United States—and facilitate the delivery of humanitarian aid. Also, he expressed gratitude for Egypt's role in securing the release of hostages, including Bulgarian nationals held in Gaza and Yemen.
Georgiev emphasized Egypt's importance not only to Bulgaria but to the European Union, highlighting the upgrade of Egypt-EU ties to a Comprehensive Strategic Partnership in March 2024 and the launch of a Joint Cooperation Committee in February. These developments, he said, marked the beginning of an enhanced cooperation roadmap spanning defense, trade, innovation, and connectivity.
He commended the consistent communication and positive relations between the Egyptian and Bulgarian presidents, noting that they lay a solid foundation for President Abdel Fattah El Sisi's anticipated visit to Sofia.
He noted his two recent conversations with his Egyptian counterpart Badr Abdelatty and pointed out that his current visit to Egypt is further testament to the importance both countries place on maintaining a close and constructive political dialogue.
As an EU member, Bulgaria actively supports the bloc's foreign policy tools and seeks to deepen cooperation with Egypt across key sectors—energy, security, migration, food security, and research and development, Georgiev said. He described Egypt as a vital partner in shaping a strategic EU-Arab vision for the region.
Regarding EU financial support for Egypt, Georgiev noted that the €4 billion in assistance is part of a broader package under the Comprehensive Strategic Partnership, totaling €7.4 billion. This includes a short-term €1 billion macro-financial assistance—already disbursed—and a longer-term €4 billion assistance program.
He clarified that the initiative aims to support macroeconomic stability in Egypt while backing a domestic reform agenda in coordination with the ongoing IMF program. The €4 billion in concessional loans is expected to be disbursed in three tranches, each contingent on satisfactory progress in IMF-backed reforms. Georgiev expressed full confidence in the outcome of this joint institutional process and looked forward to the successful disbursement of the financial aid.
On bilateral trade, Georgiev confirmed Bulgaria's interest in exploring new opportunities and expanding existing partnerships. He reported that bilateral trade reached a record $1.81 billion last year—an increase of approximately 41% over the previous year—including $378 million in Egyptian exports to Sofia.
He voiced optimism about the growing presence of Bulgarian IT and outsourcing companies in Egypt and the rising interest in investment and production in sectors such as food manufacturing, agriculture, and textiles. He noted that Bulgaria has solidified its position as the fourth-largest exporter of high-quality wheat to Egypt, with a nearly 60% increase in exports—from 285,000 tons to nearly 452,000 tons—valued at over $110 million.
According to him, Bulgaria is also actively participating in the 'Solidarity Lanes' initiative to facilitate grain exports through alternative routes. In coordination with Romania and Turkey, Bulgaria supports efforts to clear mines, secure Black Sea corridors, and ensure vital food supplies reach Africa, including Egypt, at fair prices.
Georgiev reaffirmed Bulgaria's solidarity with Gaza, citing a €200,000 donation through the Egyptian Red Crescent and the Jordan Hashemite Charity Organization. He said that during the Cairo Ministerial Conference on Humanitarian Response in Gaza, Bulgaria announced its readiness to provide further assistance, including voluntary contributions to the World Health Organization and other humanitarian organizations operating in Gaza in 2025.
The Bulgarian minister affirmed support for the Arab plan to reconstruct Gaza and expressed sincere hope for its successful implementation. He reiterated Bulgaria's full commitment to backing all international efforts aimed at achieving lasting peace, security and stability in the region.
(MENA)
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