Economy Ministers Stress Urgency for Bulgaria and Romania's Schengen Integration

Politics | November 23, 2023, Thursday // 14:36
Bulgaria: Economy Ministers Stress Urgency for Bulgaria and Romania's Schengen Integration

Bulgarian Economy and Industry Minister Bogdan Bogdanov, alongside Romanian Economy Minister Stefan-Radu Oprea, reiterated the crucial role of Bulgaria's and Romania's full integration into the Schengen area and the eurozone for Europe's economic stability and competitiveness. Their statements were made during a visit to the Danube Bridge border checkpoint at Ruse.

Highlighting the proven advantages of Bulgaria and Romania, Minister Bogdanov stressed the detrimental impact of long truck queues and border-crossing challenges on businesses. He emphasized the urgency of Bulgaria and Romania becoming fully integrated into the European space to support competitiveness and contribute significantly to Europe's economic development.

Anticipating a substantial boost to Bulgaria's GDP of 3% to 5% upon entry to Schengen and the euro area, Bogdanov underscored the economic potential of the region. He urged partners to recognize the substantial efforts made by both countries over time to meet integration requirements.

Minister Oprea echoed similar sentiments, citing the economic toll of not being in Schengen. He highlighted the significant economic losses incurred annually due to the absence of Schengen, impacting competitiveness and even increasing consumer costs for products like Dacia cars by EUR 100 per unit.

Both ministers underscored that Bulgaria and Romania have fulfilled the technical prerequisites outlined by the European Commission and the European Parliament, advocating for a positive vote in the forthcoming sessions.

The ministers convened in Ruse for a joint conference titled "United Europe: A Path to Economic Security and Sustainable Integration."

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Tags: Bulgaria, Romania, Schengen, Bogdanov

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