Austria’s Minister of Labour and Economy Martin Kocher to visit Bulgaria in May
The full accession of Bulgaria and Romania to the Schengen area will increase economic security in the region and Europe. This was stated by the Deputy Minister of Economy and Industry Nikolay Pavlov before the Federal Minister of Labour and Economy of Austria Martin Kocher. The two held a meeting during the 13th World Trade Organisation Ministerial Summit in Abu Dhabi.
Deputy Minister Pavlov: The full accession of Bulgaria and Romania to Schengen will increase economic security in the region and Europe. During the meeting Pavlov and Kocher discussed the benefits for business, including for Austrian investors in Bulgaria, from the full accession of our country to the Schengen area, the opportunities for new investments in Bulgaria and the organization of a visit of the Austrian economic minister to Bulgaria.
Deputy Minister Pavlov briefed his Austrian counterpart with data from economic studies and analyses on the effects for businesses and citizens of Bulgaria’s accession to the Schengen area. ‘The total effect of Bulgaria’s full accession is currently estimated at BGN 1 billion 100 million per year. With each year of delay in full connection, businesses operating in the country and citizens lose this money,’ Deputy Minister Pavlov said. He pointed out that the expectations of the business and the institutions are Bulgaria and Romania to be fully accepted in Schengen.
The upcoming visit of Minister Kocher to Bulgaria in May was also a major topic. He confirmed his visit and pointed out that specific economic areas should be identified in which the two countries could cooperate and improve their economic relations. Kocher noted that currently the investment environment in Bulgaria is very good and Austrian companies are interested in continuing to invest in Bulgaria.
The two also discussed Bulgaria’s accession to the euro area and the OECD, with Minister Kocher saying that Bulgaria has the full support of the Austrian state.
Deputy Minister Nikolay Pavlov is on a visit to Abu Dhabi, where it is expected in the last two days of the 13th WTO Ministerial Conference to finalise the package of measures that the countries discussed during the week.