Bulgaria and Japan have officially raised their relationship to the level of a “strategic partnership” during a ceremony at the Japanese Prime Minister’s residence. President Rumen Radev, on an official visit to Tokyo, spoke at a business forum organized by the Bulgarian Embassy and the Japan External Trade Organization (JETRO). He emphasized that every Japanese investment in Bulgaria holds great value, citing Japan’s business model as an example worth following to achieve greater success.

In his speech, President Radev highlighted the long history of friendship and strong cooperation between Bulgaria and Japan across politics, international relations, economy, science, culture, and education. He welcomed the signing of the strategic partnership declaration as a significant milestone in the countries’ shared history and relations.

Shigeru Ishiba, a Japanese official present at the event, noted the common values between Bulgaria and Japan and stressed the increasing interconnectedness of security concerns in both the Euro-Atlantic and Pacific regions amid global challenges.

The forum focused heavily on the future of trade and economic ties between the two nations. Bulgarian business representatives from sectors such as industry, high technology, and scientific research took part alongside nearly 150 Japanese companies interested in investment opportunities in Bulgaria. President Radev encouraged these companies not to hesitate, pointing out Bulgaria’s strategic geographic position, well-educated young workforce, and favorable tax policies. He assured that the presidential office would continue to support and foster collaboration between Bulgarian and Japanese enterprises.

Radev made it clear that the goal of this partnership is not just commercial gain but long-term cooperation built on friendship and shared interests. He underlined that the foundation for this cooperation rests on political will and mutual support, both of which are firmly present in Bulgaria-Japan relations. Reflecting on his earlier meetings with Emperor Naruhito, former Prime Minister Shinzo Abe, and current Prime Minister Shigeru Ishiba, the President described these encounters and the recent strategic partnership agreement as proof of the strong political foundation underpinning the ongoing development of bilateral ties.

One highlight of the partnership is Bulgaria’s advanced IT sector, which boasts the highest number of IT specialists per capita in Europe. The President also noted the unique presence of INSAIT, the only institute in the Balkans focused on artificial intelligence, which attracts top talents from global academic, research, and business circles. He referenced a 2023 memorandum between INSAIT and Japan’s National Research Agency RIKEN for joint research and doctoral programs in AI, robotics, machine learning, and computer vision. Furthermore, Toyota’s recent commitment to fund INSAIT’s research in robotics and AI underlines growing Japanese interest in Bulgaria’s tech potential.

Preliminary figures for 2024 show total trade between Bulgaria and Japan reached about 270 million US dollars, with Bulgarian exports near 90 million dollars. Bulgaria mainly exports high value-added goods to Japan, such as integrated circuits, electronic micro-assemblies, electrical transformers, medical devices, chemical products, and essential oils. Japan’s investments in Bulgaria are strong in automotive, electronics, energy, and medical equipment sectors.

Earlier during his visit, President Radev met with Toshiba’s leadership to discuss potential cooperation and investment in Bulgarian energy projects, including plans for renovation at the Chaira Pumped Storage Hydroelectric Power Plant.