Bulgaria is strengthening its role as an active participant in regional economic cooperation

Bulgaria has strengthened and continues to strengthen its role as an active participant in regional economic cooperation and its positions as a key factor for stability and security in our region. This was stated by the Minister of Economy and Industry, Dr. Petko Nikolov, during the Vienna Economic Forum, which is being held in Sofia, under the motto “We continue to build economic bridges in difficult times”.

“Eastern Europe offers many opportunities for economic growth, and I believe that Bulgaria will continue to play a major role in this process,” Dr. Nikolov also pointed out.

The Minister of Economy emphasized that it is necessary to increase the production capacity along the value chains and to modernize the production technologies. “Of great importance in these processes are investments in human capital, which is the basis of industrial success, as well as investments in infrastructure, in green connectivity, in industrial zones, which are an important aspect of the region,” he pointed out.

According to him, strengthening and expanding regional, transport and energy connectivity is of key importance. “This is why the countries of the region must respond quickly to this challenge by implementing more projects of regional connectivity and cooperation in energy, transport, digital connectivity and many others,” said Dr. Nikolov.

According to him, by entering the sea and air borders, Bulgaria and Romania have become part of the Schengen area, but full integration will contribute to more effective connectivity. “Our full accession will increase the economic security of the countries in the region as well. Any postponement of our full acceptance will cause greater lost benefits for both the Bulgarian and Romanian economies, as well as for the economies in the region,” said Dr. Nikolov. He emphasizes that according to various studies and analyses, the total effect of Bulgaria’s full accession to Schengen is estimated at over BGN 1 billion per year. “With every year of delay, businesses operating in our country and citizens lose these funds,” the minister said.

In conclusion, he emphasized that the Vienna Economic Forum Initiative is an opportunity for economic development not only for the region, but also for the entire EU.

The Minister of Economy of Kosovo Mrs. Artane Rizvanoli, former Foreign Minister Maria Gabriel, world leaders, business experts and entrepreneurs also took part in the forum.

The participants in the meeting discussed the challenges and opportunities facing the regional and global economy. The success and huge role of economic cooperation between entrepreneurs from the member countries of the Initiative was also emphasized. The Vienna Economic Forum is organized regularly in the spring in each member state, among which are Albania, Austria, Bosnia and Herzegovina, Bulgaria, Croatia, Kosovo, Moldova, Montenegro, the Republic of North Macedonia, Romania, Slovenia, Turkey and Ukraine.