The automotive clusters of Bulgaria and the German state of Saxony have signed a cooperation agreement at a ceremony Tuesday attended by Bulgarian President Rosen Plevneliev.

President Plevneliev highlighted the positive development of the automotive sector in Bulgaria in recent years and pointed out that the country has already established itself as a good site for manufacturers and suppliers of car components.

In less than two years, the Bulgarian automotive cluster has represented 19 companies with more than 10,000 employees.

President Plevneliev added that the number of jobs in ¬sector of the automotive industry is growing steadily, with many new successful projects by the world's leading manufacturers of automobiles and automotive components.

“The automotive sector provides nearly 12 million jobs for highly skilled and well-paid professionals in the EU. The automotive industry is growing and Bulgaria has significant potential in the sector,” Bulgarian head of state said.

Dr. Till Truckenmuller, chairman of Automotive Cluster Bulgaria identified as successful the development of the sector in the country.

Saxony, where some half a million cars are manufactured per year, has about 80 research institutes and universities and 450 suppliers to the auto industry. Volkswagen, BMW and Porsche have located their production plants in the German state.