Germany is our most important and strategic ally and partner in NATO and the European Union. This was stated by President Rumen Radev at a forum in Sofia dedicated to the possibilities for deepening cooperation between Bulgaria and Germany in the field of defense and current trends in the defense industry.
For decades, we have enjoyed excellent and active bilateral relations at all political levels, as well as excellent relations in all areas of mutual interest - economy, trade, investments, culture, education, tourism. Germany is a leading investor in Bulgaria and the number one trading partner, the head of state also said, quoted by BTA.
He noted that the trade exchange between Bulgaria and Germany exceeds 12 billion euros. The automotive sector is one of the fastest growing in Bulgaria. Thanks to German investments in this sector, we have about 350 companies, more than 80,000 employees, 12% of the Bulgarian gross domestic product, 35 research and development centers in Bulgaria, which is a recognition of the engineering capacity of our people, said the president.
Approximately 500,000 Bulgarians live, study and work in Germany, said Radev, pointing out that this is a huge reserve of people who can be returned to Bulgaria to bring the German experience and business model.
The organizers of today's forum are the German-Bulgarian Chamber of Industry and Commerce and the Embassy of the Federal Republic of Germany. Within the framework of the forum, German companies from the security and defense sector will present their products and technologies with the aim of creating contacts, as well as deepening existing trade and partnership relations with Bulgarian business.
According to Rumen Radev, today's event is very important. I strongly believe in the potential of our cooperation, the president added.
The security architecture is collapsing. Europe is facing growing threats. Conflicts are growing around us. Russia's war against Ukraine is escalating. The only way to ensure peace is by developing defense and deterrence capabilities to counter any threat. However, to achieve this level of security, we need to do a lot, Radev said.
We must decisively increase investments in the development of our defense capabilities and strengthen our industrial base. We need to replenish our stocks and continue to develop new technologies in the field of security and defense. However, to succeed, we need to overcome the fragmented European defense science and industry, to give impetus to and develop large-scale pan-European cooperation to overcome critical capability gaps, the President added.