Bulgaria Enjoys Attention of Bavarian State, Business

Politics » DIPLOMACY | October 20, 2010, Wednesday // 19:12
Bulgaria: Bulgaria Enjoys Attention of Bavarian State, Business Bulgarian PM Borisov addresses the Chamber of Industry and Commerce for Munich and Upper Bavaria. Photo by Council of Ministers

Prime Minister Boyko Borisov invited in Munich investors from Germany's Free State of Bavaria at a time when the Bulgarian-Bavarian economic relations are seeing an upswing.

Borisov led Wednesdaya Bulgarian government delegation to Germany's Free State of Bavaria. He and the Bulgarian ministers participated in a specially organized "Economic Day of Bulgaria at the Chamber of Industry and Commerce for Munich and Upper Bavaria.

"We are in a very hard period for the European and global economy but at the same time Bulgaria has got stable political and economic indicators, and our government has demonstrated a clear political will," the Bulgarian Prime Minister told the Munich and Upper Bavaria Chamber of Industry and Commerce, as cited by the government press center.

Recent data of the Bulgarian Cabinet show that in the first seven months of 2010 the bilateral trade between Bulgaria and Bavaria amounted to EUR 320 M, and the Bulgarian exports to the Free State grew by 14.15% year-on-year.

Some 1 500 Bavarian firms operate in Bulgaria, having made a total investments of EUR 1.5 B. Those include companies in energy, technology, car manufacturing, banking and insurance, as well as various small and medium-sized enterprises.

Borisov, however, invited them to go further, saying that Bulgaria has good business climate, fiscal stability, and political predictability.

"Our accession to the Schengen Agreement in 2011 will be an important green light for foreign investors. I really on the support of the Free State of Bavaria," the Bulgarian PM said.

Borisov received special thanks from the Munich Chamber Vice-President Stefani Schpinner-Koenig and the Bavarian Minister of Economy, Infrastructure, Transport and Technology, Martin Zeil, because he is the first Bulgarian Prime Minister to visit the Economic Day of Bulgaria at the Chamber since it was first introduced in 1997.

As part of his visit to Bavaria, Borisov also met with Prime Minister of the Free State, Horst Seehoeffer. Bulgaria's Interior Minister Tsvetanov, Economy Minister Traikov, and Regional Development Minister Plevneliev are also part of the delegation to Bavaria.

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Tags: Bavaria, Germany, Boyko Borisov, Traicho Traikov, Prime Minister, Horst Seehoeffer, Chamber of Industry and Commerce for Munich and Upper Bavaria, Economic Day of Bulgaria in Munich

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