2024-02-29 21:10:02
Austria’s Minister of Economy, Martin Kocher, is scheduled 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 indicated by the Deputy Minister of Economy and Industry Nikolay Pavlov to the Federal Minister of Labor and Economy of Austria, Martin Kocher. The two held a meeting during the 13th World Trade Organization Summit Ministerial Conference in Abu Dhabi, the Ministry of Economy announced.
During the meeting, Pavlov and Kocher discussed the benefits for business, including for Austrian investors in our country, from the full accession of our country to the Schengen area, the possibilities for new investments in our country and organizing a visit of the Austrian economic minister to Bulgaria.
Deputy Minister Pavlov introduced his Austrian colleague with data from economic studies and analyzes regarding the effects on 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 and 100 million per year. With every year of delay in full accession, businesses operating in our country and citizens lose this money,” said Deputy Minister Pavlov. He pointed out that the expectations of businesses and institutions are for Bulgaria and Romania to be fully accepted into Schengen.
The main topic was the upcoming visit of Minister Kocher to Bulgaria in May. He confirmed his visit and pointed out that specific economic areas should be identified in which the two countries can cooperate and improve their economic relations. Kocher noted that the investment environment in Bulgaria is currently very good and Austrian companies are interested in continuing to invest in Bulgaria.
The two also discussed Bulgaria’s admission to the Eurozone and the OECD, with Minister Kocher stating that Bulgaria has the full support of the Austrian state.
Deputy Minister Nikolay Pavlov is visiting Abu Dhabi, where it is expected that in the last two days of the 13th Ministerial Conference at the summit of the WTO, the package of measures that the countries discussed during the week will be finalized.