site.btaBulgarian Government Convinced of Prospects for Developing Relations with Kazakhstan, Says Economy Minister

Minister of Economy and Industry Petar Dilov and Serik Zhumangarin, Deputy Prime Minister and Minister of National Economy of Kazakhstan, opened a Bulgarian-Kazakhstani business forum organized by the Bulgarian Chamber of Commerce and Industry on Tuesday. Dilov indicated that the forum is evidence of the desire and interest of the two countries to work together to develop mutually beneficial cooperation.

The Bulgarian government is convinced of the prospects for developing relations with Kazakhstan and the existence of a number of areas of mutual interest that can be promoted through active dialogue between official institutions, as well as between the business circles of the two countries, said Dilov.

Dilov indicated that Bulgaria is a reliable economic partner, a leader in the region in financial stability, macroeconomic development and credit rating status. Bulgaria is among the countries with the lowest tax rate in Europe and with the lowest operating costs. The conditions and opportunities that the country offers are recognized by a number of established and leading international companies that successfully operate here and expand their activities, the Minister addressed the participants in the forum. He pointed out that it is of particular importance that, through the actions and measures that are being taken, businesses are supported and an even more competitive business environment is developed, in order for Bulgaria to maintain its leading positions in financial stability and credit rating in the Eastern European region.

The Minister assured the business community that his ministry will provide full support for future investment and business plans.

In recent years, the EU and Bulgaria, as a member of the Union, have permanently positioned themselves as the main trading partner of Kazakhstan, and the merit for this is the EU-Kazakhstan Enhanced Partnership and Cooperation Agreement agreed in 2015, as well as the fact that on November 30, 2015, Kazakhstan became a full member of the World Trade Organization, Minister Dilov pointed out.

He noted that the two countries have traditionally good political, economic and cultural relations and added that the government is actively working to develop economic relations with the countries of Central Asia, among which Kazakhstan undoubtedly stands out, taking into account the potential for increasing Bulgarian exports and attracting investments, as well as the priorities for the development of the region in terms of infrastructure and energy projects.

The Minister of Economy stated that Central Asia has significant economic potential and indicated that with joint efforts, the search for new incentives to facilitate business, create new jobs and new business opportunities continues.

In recent years, Bulgaria has been recording stable economic growth among the economies of Eastern Europe, it is known to investors as a place where technological business can develop, has a stable economic environment and people open to new business ideas and production, said the Minister of Economy. He indicated that there is a significant increase in interest in Bulgaria as an investment destination, especially in manufacturing, and in particular in producing parts and components for leading global car manufacturers, in business services with high added value. Bulgaria has attracted a significant number and large-scale projects in electronics, electrical engineering, information technology and outsourcing, the chemical industry, logistics, transport equipment and mechanical engineering, Dilov added. He pointed out that in order to meet the requirements of investors, work is being done to reform vocational education, reduce the administrative burden and develop industrial zones.

The event was prepared with the assistance of the Ministry of Economy and Industry of Bulgaria, the Embassy of Kazakhstan in Sofia, the Bulgarian-Kazakhstan Chamber of Commerce and Industry on the occasion of the fifth session of the joint Bulgarian-Kazakhstan intergovernmental commission for economic cooperation.