site.bta AmCham Holds Roundtable to Mark Its 20th Anniversary

AmCham Holds Roundtable to Mark Its 20th Anniversary

Sofia, October 12 (BTA) - The Trans-Atlantic Trade and
Investment Partnership agreement between Europe and the US was
high on the agenda of a roundtable discussion on "Regional
Challenges in Light of the Global Geostrategic Processes" in
Sofia Monday. The event was organized by the American Chamber of
 Commerce in Bulgaria on the occasion of its 20th anniversary.

Kenneth Hyatt, Deputy Undersecretary for International Trade,
U.S. Department of Commerce said in his remarks that the TTIP
will help small and mid-sized companies by improving the
regulatory environment which is tough on them unlike the large
companies with their legal teams.

He said that 87 per cent of Bulgarian exporters to the US are
small companies and 40 per cent of the Bulgarian export to the
US is formed by SMEs. Bulgarian export to the US grew 90 times
in the past 20 years. American investment is also showing a
growth, from 17.2 million dollars in 1996 to 1.8 billion in 2014
 which is a 10,000 per cent increase.

Hyatt also said that Bulgaria is a valued NATO member and from a
 trade perspective there is a potential for further development
of bilateral relations.

US Charge d'affaires to Bulgaria Roderick Moore underscored the
improved trade and economic relations between Bulgaria and the
US in the past 25 years and the positive changes in Bulgaria.
Tens of millions of US dollars reach Bulgaria every year and the
 signing of the TTIP will bring this figure to billions of
dollars. On micro-level, the most important thing is that
thousands of Bulgarians work for US companies now and gain
experience from this work, he said.

He observed that when he analyzes the challenges facing
Bulgaria, each one of them comes down to rule of law. The US
companies want to see justice in the courts, objectivity, fast
reaction and predictability of the legal landscape, the US
diplomat added.

AmCham President Krassimira Chemishanska spoke about the
priorities of the organization. One of them is the signing of
the TTIP. Others include improved regulatory framework in
Bulgaria, attracting more investment, improved business
etiquette and rule of law. She said that investors expect a
transparent and predictable business environment with low levels
 of corruption.

In his remarks at the forum Bulgarian Foreign Minister Daniel
Mitov spoke about the EU as a community of values in the light
of the migrant crisis. "But let us not talk only of refugee
quotas and turn to the crux of the problem. We are a community
based on a common choice of values and this choice involves
strngthening the trans-Atlantic bond. Some, however, have a
strong desire to see this bond broken or at least weakened. For
this reason the preparation of the TTIP has a huge role to play.
 We have to convince our citizens that the agreement is good for
 people on the two sides of the ocean," the Minister said.
 
It transpired from his remarks that Bulgaria is preparing to
hold a major business forum in the US. He did not specify the
location