Traykov became leader of the Agrarian Union in December 1947, a year after the Bulgarian Communist Party rose to power.

He quickly dismissed officials not affiliated with the Bulgarian Communist Party, helping to make the party a loyal partner of the Communists.

[1] On 23 April 1964 he became the nominal head of state and Chairman of the Presidium of the National Assembly of Bulgaria, following the death of Dimitar Ganev.

Nearly a year later, In April 1972, Traykov also gave up his position as chairman of the national assembly.

In July 1972 Traykov was appointed First Deputy Chairman of the State Council and held this post until November 1974.