“The participation of Bulgarian enterprises in transatlantic trade will create opportunities for sustainable economic growth, and this is a priority for Bulgaria”. This was stated by the Minister of Economy Bozhidar Loukarsky at the conference on “Transatlantic partnership for trade and investments: prospects for small and medium-sized enterprises” held earlier today and organized by the American Chamber of Commerce in Bulgaria as well as by Konfindustria Bulgaria.
Minister Loukarsky emphasized that the access of Bulgarian producers to markets of third countries, as well as attracting foreign direct investment as a result of the Agreement of Transatlantic trade and investment partnership (TTIP), are the keys to increase productivity and competitiveness of Bulgarian business. “The benefits of TTIP will be particularly significant for small and medium-sized enterprises, which currently experience a number of barriers to export. They comprise 99.8% of all companies in Bulgaria, providing 76% of jobs, and at the same time, they realize only 1.8% of the export to non-European countries”, Minister Loukarsky added.
Significant drawbacks for the small and medium-sized business in Bulgaria to reach third countries’ markets are the regulatory differences, customs fees and procedures, technical standards and the lack of information. The elimination of these drawbacks lies at the basis of TTIP, and Minister Loukarsky emphasized the need to improve the transparency of the negotiations carried out.” It is important to be honest, open and responsible to the public with regard to the negotiation process. This is the position that I took during the deliberations of the Council on Foreign Affairs and Trade in Brussels last week, and which I continue to insist on”, he assured.