WATCH BACK ON DEMAND
This online event was jointly organised with Defence & Security Exports at the Department for Business & Trade, the UK Embassy in Sofia and the Embassy of the Republic of Bulgaria in London, as part of a short series of information webinars on a number of prospective markets around the World, to promote greater awareness of the commercial opportunities there are for UK firms to do business overseas predominantly in the defence and security sectors.
Agenda:
- 10:00 (BST) Admin welcome - Christine Gomm, Event Manager, ADS
- 10:02 (BST) Welcome and introduction - Brinley Salzmann, Director – Overseas & Exports, ADS
- 10:05 (BST) Introduction to the UKDSE - Dominic Taylor, Desk Officer for South East Europe, UKDSE
- 10:10 (BST) Perceptions on potential opportunities in the Bulgarian market - Dominic Taylor, Desk Officer for South East Europe, UKDSE
- 10:20 (BST) The Bulgarian viewpoint - Krassimir Kiriakov, Head of the Economic & Commercial Department, Bulgarian Embassy - London
- 10:30 (BST) The role that the Bulgarian Defence Industry Association can play to identify potential Bulgarian partners - Zhelyazko Valchev, Secretary of BDIA
- 10:35 (BST) Open forum Q&A
- 10:50 (BST) Final remarks and close - Brinley Salzmann, Director – Overseas & Exports, ADS
Background:
The Bulgaria defence budget for 2022 stood at US$1.5 billion, and the market is expected to increase further by more than 12% during the period 2023-27. Bulgaria is likely to increase its military budget as a result of the conflict in Ukraine, and this, amongst other drivers, will motivate consistent spending over the near term. Bulgaria’s Army needs modernisation, and the Defence Minister has publicly committed to upgrading artillery support capability, as well as developing the country’s air defence capabilities and procuring UAVs, diesel-electric submarines, Multipurpose Modular Patrol Vessels, frigates, and advanced weaponry for naval vessels. Bulgaria takes a long-term approach in the Programme for the Development of the Defence Capabilities of the Bulgarian Armed Forces 2032 and anticipates a variety of future threats. The strategic goal of the Bulgarian defence policy is to protect territorial integrity as well as defend national interests. This includes building, maintaining capabilities suitable for the security environment and participating in NATO and EU defence capabilities. Key defence priorities include developing overall defence capabilities, developing the non-military component of the defence system, deepening the role of Bulgaria as a NATO and EU member, developing capabilities within the NATO collective framework, cooperating with the US, and developing the MoD as an effective integrated institution.
