site.btaHungarian Eximbank, Bulgarian Development Bank to Negotiate on Opening of Joint Business Start-ups Support Fund

Sofia, November 3 (BTA) - Bulgaria and Hungary will negotiate the establishment of a joint business start-ups support fund between the Hungarian Export-Import Bank Plc. (Eximbank) and the Bulgarian Development Bank. For the time being, the idea is to support small and medium-sized start-ups on budget of about 200 million euro, Bulgarian Economy Minister Emil Karanikolov said here on Friday.

He was speaking to journalists after the first meeting of the Intergovernmental Commission for Economic Cooperation, co-chaired by Karanikolov and Hungarian Foreign Affairs and Trade Minister Peter Szijjarto.

At the beginning of next week, the two banks' directors will open talks on the subject, Karanikolov said.

Szijjarto specified that Hungary's Eximbank is opening a 510 million euro framework credit line for star-ups in Bulgaria and Hungary and listed agriculture and tourism among the areas of cooperation. "The idea is to reach gradually the planned sum under the fund," Karanikolov added.

The Hungarian Foreign Affairs and Trade Minister noted that two-way trade amounted to 1,300 million euro last year and topped 1,000 million euro for January-August 2018.

Later in the day, Bulgaria Prime Minister Boyko Borissov also conferred with Szijjarto, the Government Information Service said.

The sides described bilateral political and economic relations as excellent. Conferring at the Council of Ministers, they noted the significance of the Economic Cooperation Agreement signed last year, which catalyzed closer contacts between business and institutions in the two countries, the press release said.

Borissov and Szijjarto pointed out that the priorities of the Bulgarian Presidency of the EU Council matters important to Hungary as well, such as the Western Balkans, the future of Europe, guaranteeing security to European citizens, the multiannual financial framework and Cohesion Policy. The Bulgarian head of government pointed out that the Bulgarian Presidency will work for achieving a broad consensus on the main items on the EU agenda and will rely on a constructive approach and solidarity on the part of Member States.

The Hungarian Foreign Affairs and Trade Minister pointed out at a news conference that the two countries are close political and economic allies. They also share common views about the challenges facing the EU, the guest said, adding that the two countries are also "allies regarding the controversy over the illegal migrants". "We agree that the migrant wave should be stopped at the EU external borders. The decision who can and who cannot have the right to enter the EU should be made before the Union borders are crossed," he said. Szijjarto praised Bulgaria's efforts to protect its borders. "Bulgaria has built a 200 km fence along the border with Turkey and has received excellent marks for protecting Europe's external border," the Hungarian Minister said. He wished Bulgaria to accede to Schengen as soon as possible.

"We are also allies when it comes to standing up for Christian values," Szijjarto added. He and Borissov had discussed the subject of education of minorities in Ukraine, and both governments regard as unacceptable the Ukrainian Parliament's resolution which, in his words, "significantly impairs the interests of the Bulgarian and the Hungarian minority to receive an education in the relevant languages."

The chief Hungarian diplomat singled out Bulgaria's consistent policy on the Western Balkans and regretted the delay of accession of new EU members. "In our opinion, the more we are the stronger we will be, particularly considering the Western Balkans, where there are major contradictions," the guest said, pointing out that, according to Hungary, these contradictions can be reduced only if cooperation with the countries in the region is stepped up. "If the EU does not step up the accession process, this will give rise to enormous economic and political risks," the Hungarian Foreign Affairs and Trade Minister said. For this reason, he recalled his country's position that a lot more negotiating chapters should be opened with Serbia and that all unopened chapters with Montenegro should be opened even this year. "As to Macedonia, even though we have a rather strong opinion on the way the government there was changed and what external factors influenced it, we support the integration process in Macedonia," the guest said.

Bulgarian Deputy Prime Minister for Economic and Demographic Policy Valeri Simeonov, who also attended the news conference, thanked Hungary for giving high marks to the reliable protection of Bulgaria's border with Turkey.

The sides signed a protocol on the Plenary Meeting of the Intergovernmental Commission, as well as memorandums of cooperation between the Bulgarian Small and Medium Enterprises Promotion Agency, the InvestBulgaria Agency and the Hungarian National Trading House.