Logistics Comprises over 10% of Europe's GDP - Bulgarian Minister

Business | October 31, 2013, Thursday // 13:09| Views: | Comments: 0
  • Send to Kindle
Bulgaria: Logistics Comprises over 10% of Europe's GDP - Bulgarian Minister Bulgaria's Transport Minister Danail Papazov, photo by BGNES

The logistics industry is a main driving force of the economy with a share of over 10% of Europe's GDP, according to Bulgaria's Transport Minister Danail Papazov.

Speaking Thursday at the opening of a conference titled "Technological Trends in Logistics: Products and Solutions," Papazov noted that the development of freight logistics and the creation of a favorable environment for the efficient functioning of logistics systems was a priority in the work of the Ministry of Transport, Information Technology and Communications.

He claimed that the modernization of transport infrastructure was a guiding factor in that process.

Papazov, as cited by the press office of the Transport Ministry, informed that a major portion of the efforts of the Ministry was directed at the development of infrastructure servicing priority trans-European destinations and the construction of intermodal nodes at key points on the territory of the country.

"In parallel, we strive to introduce new technologies in the different types of transport. Apart from cost cuts, intelligent transport systems also allow improving service quality and a more efficient functioning of the transport-logistics system," he declared.

Business » Be a reporter: Write and send your article
Tags: Danail Papazov, Transport Minister, GDP, logistics
Expats.bg All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (0)
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria