We are very proud of the exceptional dynamics in the economic relations between Bulgaria and Germany, as in the past ten years, the trade exchange has increased seven times.

The statement was made by Bulgarian president Rosen Plevneliev at the opening of an industrial site for air-conditioning installations. The investment was executed by a Germany company and is worth over BGN 40 M.

'' We are very happy with the success of the Bulgarian automobile cluster that was created merely three years ago and today continues as a dynamically developing organization,''stated Plevneliev. ''We have tens of new factories and production facilities, as well as employment opportunities. It is an honor and a proof that we are moving along the right track.''

He added that the projects that were in the making merely three years ago are now a reality, and Bulgaria has been chosen by companies like Mercedes, Porsche, Audi and many others. Plevneliev said that the Bozhurishte Industrial Zone is one of a kind, as it is strategically situated near all major of motorways.

Bulgaria's Economy Minister Lukarski added that the project is a great success of the country as Bulgaria won in competition with seven other Eastern European countries. The main reason for the competitive advantage was said to be the favorable tax policy.