site.btaBulgaria, Singapore Have Political Will to Work Together, President Radev Says

Emerging from meetings with Singapore's President Tharman Shanmugaratnam and Prime Minister Lawrence Wong here Friday, President Rumen Radev told reporters that "there is political will to work together". The President is on a working visit to Singapore until November 24, when he will leave for an official visit to Vietnam. 

"One of the goals of my visit was to establish a dialogue at the highest political level because it is important for the development of our cooperation in a number of areas of mutual interest where the potential is great," he explained. "Our relations with Singapore have another dimension no less important than the development of trade, investment and economic partnership - to understand the formula of the success of the Singaporean model, in terms of economy and social development, and to be able to implement some of the winning economic strategies," Radev said.

Asked whether it is possible that the Singapore formula works in Bulgaria, he said it is possible, but requires both political and public will.

Radev also said, "In the 1960s, when Singapore got its autonomy, this city-state was something of a poor neighbourhood with no natural resources, no drinking water and a largely illiterate population. In just one generation it became a true megapolis, one of the most thriving, innovative, competitive economies. The country now tops global rankings in terms of wealth and quality of life. This country, which is 150 times smaller than Bulgaria in terms of area and almost as populous as ours, is the Number One investor in China, India, Indonesia and a number of other countries. Its gross domestic product is five times that of Bulgaria, its exports ten times higher. There are many factors for this incredible economic and social progress, but the most important ones have been recognized by the country's founder and first prime minister, Lee Kuan Yew as the most important resource for any country: its people, the quality of human capital, education as the key to progress, healthy, clean, strong institutions, enlightened and competent state leadership, zero tolerance for corruption and an open and free market economy, making the most of the strategic geographical location. There are many things we can learn from, but this [most important thing] is the development of a sense in society of sharing common success and common responsibility for the success of the nation."

The President said it is very important for him to see "a very strong interest from the business community in Singapore to cooperate with Bulgarian businesses". 

He said that the President of Singapore was in Bulgaria a few years ago and on Friday he welcomed him with a suit made in Bulgaria and expressed satisfaction with the value he got for his money. "Bulgaria is not unknown, Bulgaria is very well known to the President, the Prime Minister and the Foreign Minister. Today aroused interest in Bulgaria and I expect positive developments soon, but an important condition is to have a stable, regular, predictable government," the head of State further said.

He also met Friday with Singapore's Foreign Minister Vivian Balakrishnan and participated in the opening of a business forum with the participation of representatives of Bulgarian and Singaporean companies.