site.btaBulgarian, Austrian Officials Discuss Schengen on Sidelines of Abu Dhabi Conference

Bulgarian, Austrian Officials Discuss Schengen on Sidelines of Abu Dhabi Conference
Bulgarian, Austrian Officials Discuss Schengen on Sidelines of Abu Dhabi Conference
Photo: Economy Ministry

The full accession of Bulgaria and Romania to the Schengen area will increase economic security in the region and Europe, said Deputy Economy Minister Nikolay Pavlov, meeting with Austrian Federal Minister for Labour Martin Kocher. The two conferred on the sidelines of the 13th World Trade Organization Ministerial Summit Conference in Abu Dhabi. 
 
Pavlov and Kocher discussed the benefits for the business, including for Austrian investors in Bulgaria, from the full accession of Bulgaria 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 citing 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 1.1 billion. With each year of delay in full accession, businesses operating in the country and citizens lose this money," Deputy Minister Pavlov said. He said that the expectations of the business and the institutions are that Bulgaria and Romania will be fully accepted in Schengen. 
 
The upcoming visit of Minister Kocher to Bulgaria in May was also in the focus of the meeting. He confirmed his visit and said that specific economic areas should be identified in which the two countries could 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 the country.  
  
They also discussed Bulgaria's accession to the euro area and the OECD, and Minister Kocher said that Bulgaria has the full support of Austria. 
Deputy Minister Nikolay Pavlov is on a visit to Abu Dhabi, where in the last two days of the 13th WTO Ministerial Conference the package of measures that the countries discussed during the week is expected to be finalized.

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By 21:17 on 24.04.2024 Today`s news

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