site.btaPresident Plevneliev Calls for Deeper Cooperation with Ukraine in High-Tech Manufacturing

President Plevneliev Calls for Deeper Cooperation with Ukraine in High-Tech Manufacturing

Kiev, July 8 (BTA) - Meeting with business people in Kiev on
July 7, Bulgarian President Rosen Plevneliev urged the promotion
 of Bulgaria's partnership with Ukraine in the industries of the
 future and high-technology manufacturing. The meeting at the
Ukrainian Chamber of Commerce and Industry was attended by more
than 150 entrepreneurs, the President's Press Secretariat
reported. Plevneliev is paying an official visit to Ukraine
between July 7 and 8.

He said that both Ukraine and Bulgaria have longstanding
traditions in the field of applied and engineering sciences,
which are important for some major industries. Bulgaria will
continue to aspire for closeness and cooperation in these areas,
 he said.

Bulgaria welcomes any Ukrainian investors in the high-tech
sector, Plevneliev said. At present, real estate accounts for
the largest share of Ukrainian investment in Bulgaria, but the
focus should be shifted to the industries of the future, he
urged. He noted that Bulgaria is working actively to become a
regional technology hub. Other potential spheres of economic
development are the building of roads and ferry infrastructure
in order to improve connectivity.

The shared interests of Bulgaria and Ukraine in the field of
energy also provide an opportunity for bilateral cooperation,
Plevneliev said.

He said Bulgarian companies show interest in the high-tech
sector and the food and pharmaceutical industries. Bulgarian
businesses have been investing in the Ukrainian economy for
years, and now there are 200 companies in Ukraine using
Bulgarian capital, including 67 subsidiaries of Bulgarian-based
businesses. Bulgarian investment in Ukraine totals 23 million US
 dollars, targeting mainly industry, transport and trade.

Presenting Bulgaria's advantages as a place for doing business,
Plevneliev singled out the country's skilled labour, low taxes
and favourable macroeconomic parameters.

Ukraine holds an important place in the Bulgarian tourism
landscape, the President said. Over 250,000 Ukrainians visit
Bulgarian resorts every year, and the relaxation of the visa
regulations for Ukrainian travellers will help attract even more
 tourists, he said.

The possibility to boost bilateral trade and economic relations
was in the focus of Plevneliev's talks with Ukraine's Prime
Minister Arseniy Yatsenyuk and Parliament Speaker Volodymyr
Hroysman. The sides agreed to hold the seventh meeting of the
Bulgaria-Ukraine Economic Commission in Sofia and to exchange
visits at the governmental and parliamentary levels.