NEWS

The Republic of Korea Supports Bulgaria’s Accession to the Organization for Economic Cooperation and Development

The Republic of Korea supports Bulgaria’s accession to the Organization for Economic Cooperation and Development. Not only Bulgaria will benefit from its accession, but also OECD. This is what Lee Nak-Yon, Prime Minister of the Republic of Korea said, who is visiting Bulgaria. It is the Prime Minister’s first foreign-policy visit abroad after he took office in May 2017. At the talks held at 2 Dondukov street Rumen Radev called for our country’s prompt OECD accession and for strengthening the trade exchange and the cooperation in the sphere of investments with the Republic of Korea.

“The bilateral trade worth 200 million dollars can be considerably increased by deepening the partnership in the IT sector, car industry and other spheres of mutual interest,” the President emphasized. The Bulgarian Head of State invited representatives of Korean companies also to take part in the forthcoming Specialized International Defense Equipment Exhibition, which our country will host in 2018. He also called for further expansion of the cooperation in the defense sphere. In Prime Minister Lee Nak-Yon’s opinion, given its strategic location in Southeastern Europe, the favorable policy for investors and the highly qualified human capital, Bulgaria has the potential to become the door for the Korean business to enter the common European market.

During the Bulgarian Presidency of the Council of the EU, Bulgaria will support a stronger strategic partnership between the EU and the Republic of Korea, President Radev further emphasized. The Republic of Korea is the only Asian country with which the EU has signed agreements on partnership, cooperation and free trade.

At the meeting Prime Minister Lee Nak-Yon voiced gratitude for Bulgaria’s principled and consistent policy on finding a long-term and sustainable solution to the situation on the Korean peninsula and called for making this issue an EU priority during the Bulgarian Presidency of the Council of the EU. In this regard he highlighted Bulgaria’s important role in ensuring stability in the Balkans and the opportunity the country has to share its valuable experience with the Republic of Korea.

The Bulgarian Head of State invited Moon Jae-in, President of the Republic of Korea, to visit Bulgaria and accepted the invitation to visit the Republic of Korea.