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Rumen Radev at the Delphi Economic Forum: Bulgaria and Greece Can Untap the Potential of Their Economies Only through Concerted Efforts

Russian Federation's war against Ukraine is a global economic clash, every day of it threatens the peace and security of the world and an opportunity for the cessation of hostilities must be found as soon as possible, the head of State said

Bulgaria and Greece can untap the potential of their economies only through concerted efforts. Most importantly, we have started to think and plan together for the future of our region. This is what President Rumen Radev said today during his participation in the Delphi Economic Forum. The annual event brings together heads of state and government, representatives of non-governmental organisations and businesses to exchange views and discuss prospects for economic development and promoting competitiveness.

Rumen Radev stressed that Bulgaria and Greece share a strategic partnership, which is important for the security, stability and development prospects of the region. Bilateral agreements in energy, transport and economy go beyond the dimensions of cooperation between the two countries and create a new vision of connectivity between us and in the region of Central and Eastern Europe. The idea of defending our interests together has turned Bulgaria into a respected and sought-after partner, Rumen Radev added.

The President highlighted the actions of Bulgaria and Greece for the development of the electricity corridors, the transport links between the Aegean and the Black Sea, an element of which is the forthcoming signing of a memorandum on the development of the transport link between the port of Varna and the port of Kavala, which will increase the security of supplies for the region.

The head of State reiterated that the sustainable development of Southeast Europe depends on the security and reliability of energy supplies. The construction of the oil pipeline from Alexandroupolis to Burgas, as well as the implementation of the NATO-funded oil pipeline project to connect Greece, Bulgaria and Romania, will be important in this regard. Regional energy, transport and digital connectivity are of key importance for promoting economic exchange and qualitatively improving the investment climate, Rumen Radev further said. In this regard, the President highlighted the actions of the caretaker government, which, despite the crisis, has managed to create conditions for fighting inflation, increasing industrial production and exports.

Russian Federation's war against Ukraine and the disrupted supply chains highlight even more the importance of cooperation, solidarity and sustainability both within the EU and in our region, the head of State stressed. He pointed out that the war has already turned into a global economic clash and every day of it threatens global peace and security, and expressed hope that an opportunity will be found soon to end the hostilities and find a diplomatic solution. The war is also destroying the international security architecture and has posed the question of its reconstruction after the end of hostilities. Who will gain and lose from the war is also becoming a significant issue in the debate about overcoming the enormous consequences for the economies and social systems of a number of countries.