Bulgaria sees the least developed countries as an economic partner. This was stated by the Minister of Innovation and Growth, Alexander Poulev, during the Fifth UN Conference on Least Developed Countries, which is being held in the Qatari capital, Doha.

According to him, there is untapped potential in the development of common investment initiatives. We can help, through Bulgarian innovations and high technologies, to improve life in these countries, Poulev pointed out.

He emphasized that Bulgaria is built on the pillars of solidarity. “We are an ancient country with long-standing traditions and a rich history. We have overcome a series of political and economic crises. For this reason, we, as a nation, have deep understanding of the challenges which the least developed countries are facing today,” the minister pointed out.

He stated, our country has consistently supported the least developed countries over the years, such as Bulgaria’s aid to these countries has so far been provided in different ways including directly financially, through debt forgiveness, through training and education programs focused on IT, engineering and mathematics.

Poulev recalled that Bulgaria donated vaccines to Bangladesh and Bhutan, and recently developed new trade and economic ties with Cambodia, Ethiopia and Nigeria.

He was categorical that the most effective way to support underdeveloped countries is not through the sale of goods and services, but to be supported, for eand increase their export potential, to create local value chains, to create local production facilities.

According to him, Bulgaria is already taking significant steps in this direction and gave an example of Bulgarian fintech companies that invest in Africa and Southeast Asia.