site.btaBulgaria’s OECD Membership to Boost Economy and Attract Investments, Experts Say

A public discussion on Bulgaria's membership in the Organisation for Economic Co-operation and Development (OECD) as a factor for investment and economic growth took place in Sofia on Thursday. The discussion was organized by the Diplomatic Institute with the Bulgarian Ministry of Foreign Affairs. 

Addressing the conference, Gandia Robertson, Head of the Accession Coordination Unit and Senior Legal Advisor at OECD, said that Bulgaria's membership will give the country a voice in shaping the global debate beyond Europe and create opportunities to attract more investment. Robertson noted that OECD membership provides a lever for higher economic growth by opening the Bulgarian market to investors from member countries, while giving Bulgarian investors access to those markets. OECD standards help level the global playing field by promoting responsible business conduct and best practices. She stressed that accession is just the beginning, with Bulgaria able to continue benefiting from OECD expertise to improve public administration, reforms and investor confidence.

Ivo Marinov, Director of the Directorate for Foreign Economic Policy and International Cooperation at the Ministry of Economy and Industry, said that OECD membership will allow Bulgaria to implement its economic policy more effectively and participate equally with other member states in shaping international standards in areas including public administration, regulatory policy, education, healthcare, the digital economy and innovation. "OECD membership is not only a political and institutional choice, but also an economic guarantee of the future we all strive for," he said. The Ministry has hosted OECD missions and continues to implement recommendations to strengthen the investment climate.

Deputy Foreign Minister Nikolay Pavlov noted that membership is not only a mark of prestige, but also a commitment to reforms and adherence to high economic and social standards.  For Bulgaria, OECD membership means a new horizon and a major opportunity to accelerate development, attract investment, and guarantee a higher standard of living for all Bulgarians, Pavlov said. He underscored the importance of cooperation between the state and the private sector, as reforms and changes will be translated by business into future investments, innovation and jobs. He stressed that challenges lie ahead. Companies will have to adopt higher standards of corporate governance and accountability. OECD policies encourage environmentally sustainable business practices, which will require investments in modern, greener facilities. The organization also enforces international standards to prevent tax evasion and curb unfair competition - measures that are positive for business, but also binding obligations, Pavlov noted.