BULGARIA SEEKS DIRECT INVESTMENT

Views on BG | November 15, 2001, Thursday // 00:00

The Yomiuri Shimbun/Daily Yomiuri - Japan

Bulgaria appreciates the financial support it has received from Japan, which has helped the East European nation grow quickly in the past decade since its democratization, Bulgarian National Assembly Chairman Ognian Gerdzhikov said in an interview with The Daily Yomiuri on Wednesday.

Gerdzhikov, who is visiting Japan at the official invitation of House of Representatives Speaker Tamisuke Watanuki, heads a Bulgarian parliamentary delegation entrusted with fostering bilateral ties between Japan and Bulgaria. The delegation is scheduled to stay in Japan until Saturday.

"Bulgaria is a nation that acts as bridge between Asia and Europe both geographically and culturally," Gerdzhikov said in the interview, held at a hotel in Chiyoda Ward, Tokyo.

Gerdzhikov said Bulgaria has initiated many projects, such as those to construct a subway in the capital, Sofia, with official help from Japan.
He said that although Japan is one of the nations providing a sizable contribution to Bulgaria in the form of official development assistance, it ranks 25th in terms of foreign direct investment.

"Direct investment from Japan (to Bulgaria) is vital for our country to fulfill our policies to improve the infrastructure," Gerdzhikov said.
Referring to the role Bulgaria is expected to play in the international community, Gerdzhikov said his nation is getting ready to become a member of the European Union and the North Atlantic Treaty Organization in the very near future.

Once his nation joins NATO, Gerdzhikov said, he has no doubts about Bulgaria's readiness to participate in a military campaign in the event its allies are attacked by a third party.
Gerdzhikov added that some in his country have favored a review of the Bulgarian Constitution to make it suit the needs of the international community. Bulgaria was the first Eastern European nation to adopt a democratic constitution in 1991, following the end of the Cold War.

He also said Bulgaria, which last month won a nonpermanent seat on the U.N. Security Council, supports Japan's attempt to gain a permanent seat on the council.

With regard to domestic economic policies in Bulgaria, Gerdzhikov said the government is reducing taxes and relaxing regulations to attract both domestic and foreign investors.
"Bulgaria and Japan have a lot in common--rich culture, long history and democracy," he said. "Thus, we should build firmer ties with each other on the international level."

On Tuesday, Gerdzhikov met Prime Minister Junichiro Koizumi at the prime minister's official residence, and the two agreed on the need to strengthen the bilateral relationship.

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