NEWS

Bulgaria and Great Britain Have Doubled The Bilateral Trade In The Past 10 Years

The trade between Bulgaria and Great Britain has doubled in the past ten years and Great Britain ranks fourth among the foreign investors in Bulgaria, having invested approximately 2.5 billion euros in the past 15 years. The Bulgarian president’s visit will open new doors to business circles and investors, Foreign Secretary William Hague said. President Rosen Plevneliv held talks with him during his official visit to the United Kingdom. The potential sectors that provide opportunities for strengthening the economic ties are the sectors of high technologies, infrastructure, energy and the car industry. Great Britain is the second biggest market for the Bulgarian companies in the sector of high technologies.

The meeting was also focused on the events unfolding in Ukraine. The two share the opinion that the referendum held in Crimea violates Ukraine’s constitution and international law and is illegitimate. Therefore its results should not be acknowledged. In the 21st century it is unacceptable for a country to occupy another sovereign country. The agreement signed for Crimea’s accession to the Russian federation places Europe and the world in a new situation.

The Head of State laid emphasis on the positive changes that have taken place in Southeastern Europe in the past years. The European prospect is a powerful trigger of the reforms in the Western Balkan countries, Rosen Plevneliev commented. The EU funds help us to enhance the cohesion in the region – road infrastructure, railways, energy systems. This process raises the attraction of the Balkans for the foreign investors and guarantees that the individual countries will develop their potential and enhance their prosperity.

The President thanked the British side for their decision to award a gallantry medal for bravery to the Bulgarian Plamen Petkov, who rescued a child from drowning. Plamen Petkov’s mother also attended the reception given by William Hague in the Foreign Office on the occasion of the Head of State’s visit.

The Balkans are heading in the right direction towards improvement, the Head of State said at the meeting he held with Nick Clegg, Deputy Prime Minister of Great Britain. The EBRD has boosted the regional development by the development of a new strategy on Bulgaria and Southeastern Europe. The Head of State emphasized the great importance of energy efficiency and the diversification of energy resources to increase the competitiveness of the Bulgarian economy. In this context, the role of the Petroceltic company in exploring the Bulgarian Black Sea shelf for natural gas and that of the TAP project was highlighted.

The good cooperation between Bulgaria and Great Britain in the defense sector and fighting terrorism was highlighted. Together with representatives of the British government, the President discussed the opportunities for conducting more efficient joint exercise of the armed forces.

As for the freedom of movement of people in the union, both Bulgaria and Great Britain unanimously agree that this is one of the EU’s greatest achievements and it should be preserved. President Rosen Plevneliev said that the majority of the Bulgarians living in Great Britain are highly qualified and have substantially contributed to the development of the local economy. To dispel the concerns about the possible abuse of the British social system, soon a Memorandum for cooperation will be signed between the British Ministry of Labor and Pensions and the Bulgarian Ministry of Labor and Social Policy. The Head of State voiced hopes that the problem related to the suspended loans for Bulgarian students in Great Britain will be promptly resolved.