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Bulgaria President Wants Greater Investment Dynamic with Turkey

Date: 19.12.2008

Bulgaria's President Georgi Parvanov said Wednesday in Ankara the investment flows with Turkey had to be intensified.

During his closing speech at the Bulgarian-Turkish business forum, which was organized in Ankara in the context of his state visit there, Parvanov pointed out the recent growth in the bilateral trade was largely due to the fruitful political dialogue.

In his words, the Bulgarian-Turkish relations were currently in their best condition since the two states established diplomatic ties.

The President said before the bilateral business forum that Bulgaria was the only EU country offering such a low level of taxation of foreign investments. He pointed out the energy sector was a priority in the bilateral economic relations.

Parvanov also declared himself in favor of liberalized visa regimes for businessmen, and for more investments in the infrastructure of the checkpoints on the Bulgarian-Turkish border.

The President also reminded that during a similar business forum five years ago, he had promised to host a banquet when the Bulgarian-Turkish trade reached USD 1 B. He admitted he was late in fulfilling his promise since the bilateral trade now stood at USD 5 B.

According to data presented during the business forum, the fully-owned Turkish firms with business activities in Bulgaria are 1 900; there are also 1 500 joint Bulgarian-Turkish enterprises as well as 50 representations of Turkish companies located in Bulgaria.

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