17.4.2007

Bulgaria To Become Regional Economic Center of the Balkans

Bulgaria is developing its economy in a way to become important part of the European economy while also being a strong participant in the transatlantic cooperation, claimed the Bulgarian Deputy prime minister and Minister of foreign affairs Ivaylo Kalfin at the opening of the conference “Economic partnership between USA and EU: new perspecitves for Bulgarian business”.
The transatlantic cooperation is extremely important for Bulgaria because it can help our country become a regional economic center of the Balkans.
Both European and American business are traditionally present in Bulgaria and we should look forward to their long-term development, added Kalfin.

Up till now in Bulgaria there are 9700 companies, dealing with import from Germany, 2300 are the exporters for the biggest EU producer.
560 are the German companies, which operate in Bulgaria, explained the minister.
The role of the American economy in our country is underlined by the 70 operating in Bulgaria American companies.
From 1992 till now USA has made $780 M direct investment in the country.
This gives the USA 8th place among the foreign investors in Bulgaria, but this place will definitely be imporved, said also Mr. Kalfin.

Transatlantic cooperation is very important for the world economy, said the US ambassador in Bulgaria John Beyerly, adding that Bulgaria has its strong place in this cooperation.
USA and EU form 57% of the world GDP. The two countries form half of the world trade.
USA buys more than 20% of the EU's export, while EU is one of the biggest US economic and trade partners.
The two parties of the transatlantic cooperation have invested between each other more than $ 3 trillion.
The trade disputes between USA and EU are often mentioned but the encompass only 2% of the mutual trade between the two parties.
If the economic results of this transatlantic cooperation in which Bulgaria is already member, are equalized, this will lead to a net result of 3,5% growth in the world GDP.

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