Indonesia and Bulgaria are strengthening cooperation in industry and manufacturing through opportunities in trade, investment, technology transfer, industrial clusters, and market access (21/09).

The two countries have similar developments in their industrial sectors, including food and beverages, automotive, machinery and equipment, metals, and chemicals. Their industrial cooperation is being discussed as a way to develop trade, investment, technology, and partnerships between industry players.

“We view this meeting as a concrete form of our joint efforts to continue advancing the economic sector, particularly in industry and manufacturing,” Deputy Minister of Industry Faisol Riza said in an official statement in Jakarta on Monday (21/9).

Indonesia-Bulgaria Trade and Investment Continue to Grow

Total trade between Indonesia and Bulgaria reached approximately USD230.5 million in 2025, with an average growth trend of 13.34 percent from 2021 to 2025.

Indonesia's exports to Bulgaria reached USD147.4 million in 2025, recording an average growth trend of 31.13 percent during the same period. Indonesian products exported to Bulgaria include ores and slag, aluminium, rubber, iron and steel, palm oil and its derivatives, and paper.

Bulgarian investment in Indonesia reached USD5.59 million during 2021–2025. The two countries see further opportunities to develop economic relations, particularly through investment in manufacturing.

Potential investment areas include production facilities for agro-industry, machine tools, and industrial cluster development.

Industrial Clusters and Technology Transfer

Indonesia and Bulgaria are also exploring cooperation through investment and knowledge exchange, in addition to trade.

Tri Supondy, Director General of Industrial Resilience, Regional Development and International Industrial Access at the Ministry of Industry, said cooperation could focus on value-added industries, production facilities, and the exchange of knowledge and technology.

“Indonesia-Bulgaria cooperation can be directed toward strengthening value-added industries, developing production facilities, as well as exchanging knowledge and technology. Bulgaria's experience in developing industrial clusters can also serve as a reference for the development of industrial areas in Indonesia,” he said.

Industrial clusters are one area that the two countries can study together. The model brings companies, research institutions, universities, and government into one ecosystem to support industrial development.

Indonesia is open to learning from Bulgaria's experience in applying industrial cluster models in Europe, including the development of Eco-Industrial Parks. Indonesia can also share its experience in developing industrial areas.

“High-tech cooperation potential is also an interesting area to follow up. Several Bulgarian companies have competencies in areas relevant to Indonesia's industrial development needs, so opportunities for technology transfer, partnerships, and joint investment can be explored further,” Tri added.

Indonesia Explores Bulgaria as an Entry Point to the EU Market

Market access was also discussed during Faisol's meeting with Bulgaria's Deputy Minister of Economy, Investment and Industry, Mihaela Georgieva Karadimova, on Monday (14/9).

Indonesia highlighted opportunities to increase exports of national industrial products to Bulgaria and explore Bulgaria's role as one of the entry points to the European Union market.

Potential products include solar panels and their equipment, medical devices, rubber, palm oil products, canned fish, and cocoa.

The effort can be supported through business matching, identification of industrial needs, and information on market requirements.

The Indonesia-Bulgaria meeting is expected to expand economic cooperation beyond trade into a broader industrial relationship covering investment, production facilities, technology, human resources, and market access.

“2026 is a special momentum for Indonesia-Bulgaria relations because the two countries are commemorating 70 years of diplomatic relations that have existed since 1956. This 70th anniversary serves as one of the foundations for strengthening mutually beneficial industrial cooperation that can be followed up concretely,” Faisol said.

PHOTO: MINISTRY OF INDUSTRY

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