‘Bulgaria supports efforts to implement an effective, transparent and value-based trade policy, as well as the search for opportunities to realise the full potential of EU trade negotiations and agreements.’ This was stated by Deputy Minister of Economy and Industry Nikolay Pavlov, who took part in the regular meeting of the Foreign Affairs — Trade Council held in Brussels. Ministers held a strategic discussion on the future role of trade for EU competitiveness and discussed EU trade and investment relations with Africa.
Deputy Minister Pavlov pointed out that Bulgaria maintains a balanced and moderate approach when developing initiatives related to Europe’s economic security. He stressed that the EU should remain an open and attractive destination for investment and increase its competitiveness, while taking into account the current geopolitical threats to European economies and supply chains.
In his words, bilaterally, the EU should expand its network of trade agreements while introducing new more flexible forms of cooperation to ensure its dual transition. Achieving success in bilateral negotiations requires compromise and a flexible approach. At the same time, the EU must be ready to actively use its own autonomous instruments to protect itself from unfair trade.
The economic deputy minister also said that the EU should continue to play a leading role in WTO reform by provoking discussion on key issues, including the governance process, dispute settlement, e-commerce and industrial policy.