Europe's green transition offers India-Bulgaria trade opportunities, says Indian envoy

The green transition currently high on the agenda in Europe will create more opportunities for cooperation and trade between India and Bulgaria, India's Ambassador to Bulgaria Sanjay Rana has said.

The year 2024 is being celebrated as the 70th anniversary of the establishment of diplomatic relations between India and Bulgaria.

Rana was in Burgas on the Black Sea coast, near the Bulgarian capital Sofia, on Thursday to get acquainted with the opportunities for deepening economic cooperation.

Economic relations between Bulgaria and India have been on the upswing over the past 10 years, he told the Bulgarian news agency BTA.

There has been an increase in the exchange of construction materials and various special-purpose tools between the two countries, he added.

According to BTA, the Indian envoy said that the two sides are now finding new opportunities, including opportunities to trade components for electric vehicles and specific equipment for the renewable energy sector.

"The green transition currently taking place in Europe will create more opportunities for cooperation and trade between India and Bulgaria," he said.

Specifically on the Burgas region of the country, he described it as one of the most dynamically developing regions in Bulgaria, as many economic activities take place there.

Burgas is a “gateway” to Bulgaria because of its ports and is becoming an increasingly important hub for trade between India and Bulgaria. With the development of logistics and railways, Bulgaria is becoming an extremely important partner for India, he emphasised.

The ambassador said that Bulgaria and India have a sustainable economic and cultural cooperation, and in recent years, new opportunities have opened up, given the growing interest in sustainable technologies, electric vehicles and renewable energy sources.

Rana also commented on the idea of hiring third-country workers in Bulgaria, announcing that India has expressed its desire to the Bulgarian government to conclude a bilateral agreement in this direction.

According to him, this will benefit the big employers in Bulgaria as they need well-trained manpower, an area where India can contribute.India already has similar agreements with Italy, Germany, France and Austria, he added.