Greece, Bulgaria deepen economic ties with new infrastructure, commercial links

Greece and Bulgaria are starting a new chapter in their commercial relations, as they strengthen ties across important sectors like energy, transport, investment, exports, and logistics. Through this increased cooperation, both countries are becoming major economic players in the Balkans.

In the last three months, the two neighbors have signed a number of energy and infrastructure deals that promise to transform commerce between the Black Sea and the Mediterranean, as well as shore up defense and energy security in the region. The recent renewal of a bilateral memorandum of cooperation between Enterprise Greece and the InvestBulgaria Agency underscore the ever closer ties.

In February, more than 200 Greek and Bulgarian companies took part in a hi-level bilateral forum in Sofia, while Greek, Bulgarian and Romanian officials held their first working meeting under the auspices of the European Commission to discuss plans for a new Black Sea–Aegean Sea transport corridor.

Last year, Greece and Bulgaria deepened their energy ties in the supply of natural gas and are now looking at new interconnections for hydrogen in the future. And, starting next year, a regular railway connection between Sofia and Thessaloniki will be restored after nine years of absence.

This year, Bulgaria adopted the euro after joining the Schengen Area last year, boosting economic activity along the shared 500-kilometer border with Greece. Bulgarian tourism to Greece increased by 24.5% in 2024, and an estimated €125 million has been invested by Bulgarians in residential properties in northern Greece. Meanwhile, more than 18,000 Greek businesses are currently registered in Bulgaria.