Jakarta, September 15, 2026 – The Europe Today: Indonesia and Bulgaria have reaffirmed their commitment to strengthening bilateral trade and investment cooperation, with Bulgaria positioned as a potential strategic gateway for Indonesian products entering the wider European Union market.
The commitment was reiterated during a bilateral meeting between Indonesian Trade Minister Budi Santoso and Bulgarian Deputy Prime Minister and Minister of Economy, Investment and Industry Alexander Poulev in Jakarta on Monday.
Highlighting the 70th anniversary of diplomatic relations between Indonesia and Bulgaria, Budi expressed optimism that closer economic cooperation would contribute to accelerating growth in both countries.
He said both sides remained committed to continuously expanding cooperation in trade and investment and expressed hope that the meeting would provide fresh momentum to bilateral economic relations.
During the meeting, Budi also sought Bulgaria’s support for the implementation of the Indonesia-European Union Comprehensive Economic Partnership Agreement (IEU-CEPA), which officials aim to bring into force by early 2027.
Poulev welcomed efforts to expand economic relations and reaffirmed Bulgaria’s support for the IEU-CEPA framework.
He highlighted Bulgaria’s geographical position in the eastern part of the European Union, saying the country could serve as an entry point for Indonesian companies seeking access to the EU market, which has a population of around 450 million.
The Bulgarian deputy prime minister also identified considerable untapped potential for expanding bilateral trade and investment, particularly in agriculture, automotive components and halal-certified meat products.
To sustain the momentum in bilateral economic cooperation, Poulev proposed reactivating the Indonesia-Bulgaria Joint Commission for Economic Cooperation (JEC) during the first half of 2027.
According to trade data, bilateral trade between Indonesia and Bulgaria reached US$230.8 million in 2025, with Indonesia recording a trade surplus of US$64.2 million.
Indonesia’s exports to Bulgaria amounted to US$147.4 million, comprising mainly nickel ores, unwrought aluminium, steel products and margarine.
Meanwhile, Indonesian imports from Bulgaria stood at US$83.1 million, with major products including wheat, medical instruments, spices, unmanufactured tobacco and defence equipment.
The two sides expressed their shared interest in further diversifying trade, strengthening investment links and identifying new areas of mutually beneficial economic cooperation.
