Ambassador Tihomir Stoytchev met with members of the Washington International Business Council on June 7th, 2018, at the Cosmos Club. The significance and impact of 115 years of diplomatic relations between Bulgaria and the US, the 75 anniversary of the historic rescue of Bulgarian Jews from the Holocaust and the Bulgarian presidency of the Council of the EU were in the focus of the event.
Bulgaria and the US are strategic partners that cooperate in many areas such as security and defense, counterterrorism, energy, the rule of law, education and people to people contacts. Ambassador laid out the Bulgaria’s progress in fiscal prudence and low taxes, thus creating a favorable investment environment. The country’s efforts in guaranteeing energy security and diversification were particularly highlighted. Specific industries such as ICT, automotive components, defense products, food and agriculture, tourism were highlighted as having potential for the US involvement.
The US FDIs and bilateral trade of goods and services between the two countries enjoy a steady growth, with a substantial investment most recently from Bulgaria to the US as in sectors such as semiconductor automation, robotics, vet pharma and renewables.
Bulgaria’s key contribution to the region’s stability was laid out adding to its impressive performance this year as President of the EU Council.
Ambassador Stoytchev presented the Bulgarian Presidency’s priories with a focus on advancing the EU membership of the Western Balkans, tackling migration, fighting terrorism and boosting the digital economy. In this context, the need to strengthen the Transatlantic Relationship was particularly emphasized.