Indonesia, Bulgaria Discuss Strengthening Trade & Investment Cooperation

RRI.CO.ID, Jakarta – Indonesian Minister of Trade Budi Santoso and Bulgarian Deputy Prime Minister and Minister of Economy, Investment, and Industry Alexander Poulev discussed strengthening trade and investment cooperation, alongside plans to implement the Indonesia-European Union Comprehensive Economic Partnership Agreement (I-EU CEPA). The meeting, held at the Ministry of Trade office in Jakarta on Monday, September 14, 2026, also marked the 70th anniversary of diplomatic relations between the two countries.

"Indonesian and Bulgarian diplomatic relations have spanned 70 years. Both nations are committed to continuously strengthening cooperation in trade and investment. We hope today's meeting will drive this growth forward," Budi stated, as quoted in a written ministry press release on Monday, September 14, 2026.

During the session, Budi highlighted Bulgaria as a potential gateway for Indonesian products to reach the Southeast European market. To open this gateway, Budi expressed hope for Bulgaria's support regarding the target implementation of the I-EU CEPA in early 2027.

He invited Bulgarian business players to attend the Trade Expo Indonesia (TEI) 2026 international trade exhibition. The event is scheduled for October 14–18, 2026, at the Indonesia Convention Exhibition (ICE) BSD in Tangerang, Banten, where they can explore Indonesia's premier products firsthand.

"We invite Bulgarian business actors to come to TEI 2026. Bulgarian buyers can discover Indonesia's flagship products and explore emerging business opportunities," Budi said.

In response, Poulev welcomed the strengthened economic cooperation. He expressed full support for accelerating the implementation of the I-EU CEPA and invited Indonesia to reactivate the Joint Commission for Economic Cooperation (JEC) in the first semester of 2027 to fast-track the realization of both countries' strategic commitments.

In 2025, Bulgaria ranked 76th as an export destination for Indonesia's non-oil and gas products and 67th as a source of non-oil and gas imports. Total trade between Indonesia and Bulgaria was recorded at US$230.8 million, resulting in a surplus of US$64.2 million for Indonesia. Indonesian exports to Bulgaria reached US$147.4 million, while imports from Bulgaria stood at US$83.1 million.