Bulgarian, Belgian, Luxembourg Economic Forum Established

A Bulgarian, Belgian, Luxembourg Economic Forum, a non-governmental organization aiming to promote economic, trade and investment relations among the three countries, was established in Sofia after a meeting between caretaker Minister of Economy and Industry Nikola Stoyanov and representatives of the initiative group for the establishment of the forum. Deputy Minister Irina Shtonova also took part in the talks.

Minister Stoyanov stressed that the traditionally good economic relations between Bulgaria, Belgium and Luxembourg are a serious basis for expanding and deepening the cooperation between the countries. Minister added that it is particularly important to encourage the interest of Belgian and Luxembourg companies in investing in Bulgaria - a step, which would develop the potential of the three countries.

Minister Stoyanov outlined the main objectives of the joint business structure, in which the Bulgarian Chamber of Commerce and Industry will participate on the Bulgarian side. In his words, it will assist small and medium-sized enterprises from the three countries to position themselves in the respective markets. Various forms of cooperation will be sought - through universities, development centres, international exhibitions, media, etc. Among the objectives is to make the forum another way for companies in the service sector, business process outsourcing, ICT sector, research and startup attractions, pharmaceutical industry, and to exchange experiences and ideas.

Deputy Minister Irina Shtonova pointed out that Bulgaria's Commercial Attachés have an important role to play in the establishment of such initiatives and the development of bilateral economic relations, and they will also support the process of institutionalizing the new organization. The participants in the meeting discussed that Belgium is one of the leading investors in Bulgaria, as Belgian companies have long-term interests and development strategy. The Grand Duchy of Luxembourg ranks 7th among the leading investors in Bulgaria.

The meeting was attended by former Belgian Ambassador to Bulgaria Philippe Beke, Luc Sounier, Honorary Consul of Bulgaria in Belgium, Consular District of the Walloon Region, Willy Van Impe, Bulgarian Honorary Consul Generale in Belgium, Consular District of the Flanders Region, Tsvetan Simeonov, Chairman of the Board of the Bulgarian Chamber of Commerce and Industry, Bozhidar Patinov, Economic Advisor at the Office for Trade and Economic Affairs of Bulgaria in Belgium and Luxembourg.