site.btaBulgaria Hosts Second OECD Mission for Corporate Governance Assessment

Bulgaria welcomed the second mission of the Organisation for Economic Co-operation and Development (OECD) for assessment of corporate governance, the Economy and Industry Ministry said in a press release on Thursday. "Good corporate governance of public enterprises is our key goal, and Bulgaria is making persistent efforts to increase efficiency and transparency in the public sector," said Deputy Economy and Industry Minister Doncho Barbalov.

Two meetings were held during the OECD visit in Sofia between the Corporate Governance Committee and the representatives from the OECD’s Secretariat, chaired by Gita Kothari, OECD’s Accession Coordinator.

The goal of the meetings was to assess Bulgaria’s progress in corporate governance, as per the recommendations made by the OECD as part of process of Bulgaria’s accession to the organization.

Membership to the organization is a major priority for Bulgaria’s foreign policy. All accession preparations are carried out with maximum mobilization of the state institutions, emphasized the Deputy Minister.

After the first mission of the OECD in Bulgaria, and their report on the state of public enterprises, the country undertook specific actions to address the Corporate Governance Committee recommendations. An updated draft response letter describing progress on each recommendation was submitted to the OECD for examination. The results were positive, leading to the organization of this second mission, commented Barbalov.

He expressed appreciation for the excellent work relations with the representatives of the OECD Secretariat. "I believe that this cooperation is of great importance for the successful completion of the pre-accession assessments,” said the Deputy Minister.