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Bulgaria – 5 European corridors with excellent links to the neighbour countries and regions

Bulgaria – Korea Business Forum was moderated by the President of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov
 
Оn 27 September 2011, in Sofia a Bulgaria – Korea Business Forum was held. As a moderator of the Forum, the President of the Bulgarian Chamber of Commerce and Industry opened the event and shared that Bulgarian and Korean businesses enjoy good relations. Korea is considered one of the most important partners of our country because it has demonstrated and proven to the world that it can achieve and maintain high economic standards.
During the forum Invest Bulgaria Agency presented the economic environment and investment opportunities in Bulgaria. A representative of the Road Infrastructure Agency discussed projects in the field of infrastructure construction (construction of roads and highways). The e-government policy of the Ministry of Transport, Information Technology and Communications was reviewed. 
The Director of KOTRA (Korea Trade-Investment Promotion Agency) Mr. Lee Kwan-seok presented Korean initiatives in the field of construction abroad. Contractors from the Middle East reached volume of USD 275 billion which constitutes 61% of the world market share. Until 2000, Korean construction companies operating abroad built mainly housing estates, public buildings and facilities. As of this year the construction of industrial buildings, plants and other similar industrial installations prevails. Among those – a man-made river in Libya, manufacturing complex in Mexico, ultra mega power plant in India – 4000 MW, the tallest building in the world – in Dubai, which was finished at the end of 2008, Pakistan’s national highway and many others. Since the beginning of the year, Korean contractors have been building a housing complex in Bulgaria.
Mr. Lee Kwan-seok presented European projects of Korean contractors. The total number of projects worldwide exceeds 8000. According to him, cooperation between Bulgaria and Korea is built upon the following: Bulgaria provides opportunities, and Korea has strong sides. In Bulgaria, Korean contractors offer cooperation in the field of water purification, power engineering, construction of housing and public buildings, etc.
During the Forum four cooperation agreements between Bulgarian and Korean companies were signed.
The Forum was closed by the Prime Ministers of Bulgaria and Korea.  
The Prime Minister of the Republic of Korea Mr. Kim Hwang-Sik greeted the businessmen saying that Bulgaria is known as the motherland of yogurt and the place where the famous oil-bearing rose grows. Korea and Bulgaria have made many efforts to develop their economic ties. The Free Trade Agreement signed between the European Union and Korea will stimulate the relations between the two countries. 
Hyundai Industries was given as a successful example of foreign investment in Bulgaria. Korean entrepreneurs are convinced of the attractive business conditions in our country. We need to complement each other with our positive sides. The Prime Minister noted that IT and telecommunications, renewable energy sources and infrastructure construction are key sectors for bilateral cooperation. Korean businesses are aware of the opportunities for EU financing of infrastructural projects. On its part, the construction sector in Korea has marked an incredible growth in recent years – strictly met deadlines and high competitiveness of Korean construction companies are only some of the advantages. 
Korean companies have developed a lot of projects in the Middle East and Asia and are now entering the European market.
As far as nature preservation is concerned, Korea has big plans regarding the reduction of harmful carbon emissions and mass use of renewable energy. The country is aware of Bulgaria’s plans in this area related to realizing the EU goals by 2020. Some examples of Korean companies already working in Bulgaria were given, such as the project for construction of solar power plants in Samovodene.
The Prime Minister of Korea emphasized IT and telecommunication sector as a possible sphere for bilateral cooperation. There are already such examples in the public and private sector and governmental support was promised to increase their number.
In his address to the participants in the Forum, the Bulgarian Prime Minister Mr. Boyko Borisov said that the fact that the visit of the Korean Prime Minister to the European Union starts in Bulgaria is indicative of the importance of the cooperation between our countries. He shared some of the topics discussed in the bilateral talks – joint work in the field of e-government – export of grain for Korea, cultural tourism, innovation, infrastructure, building a cargo terminal in Stara Zagora. A mutual agreement for the recognition of driving licenses in the two countries was signed. Cooperation in the field of education was discussed, for example establishing a Korean school in Bulgaria. 
Prime Minister Borisov once again presented the business conditions in our country – he emphasized the stability and the country’s desire to achieve ecological manufacturing and environment preservation activities. The Prime Minister paid special attention to Bulgaria’s key location as a link between Europe and Asia – 5 European corridors and excellent links to the neighbour countries and regions.

27.09.2011

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