Mr. Ambassador, what are the most important economic projects that our countries are developing and working present?

Turkish-Bulgarian relations have improved considerably in the last 15 years and reached an excellent level in all spheres. The economic ties between the tow countries intensified and bilateral trade increased three-fold in four years, reaching 2,3 billion Dollars in 2005. Turkey is currently Bulgaria’s largest export market. Given the large size of the Turkish market and its dynamism, three is a lot that the Turkish economy can offer. As known, Turkey has been the 17th largest economy in the world in terms of GDP in 2005, with impressive average growth rate of 7 % in the last three years.

Bilateral economic investments are growing too, Turkish investments in Bulgaria exceeding 500 million Dollars. Large scale investment projects have recently been implemented. The Turkish Şişecam glass company has launched the greatest green-field investment, a 220 million Dollars glassware and flat glass production facility in Bulgaria, the OPET-Aygaz oil company’s investment in petrol stations is planned to reach 1000 million Dollars. We are pleased to observe that Bulgarian investments in Turkey are also on the rise. The Bulgarian Prista Oil, has made a substantial investment in Turkey.

Currently, the building of a Dam and Hydroelectric Power Station on the Tundja River is one of the projects that is on our agenda. The projects importance can be better understood in view of the recent floods that severely affected both sides. Our Ministers of Energy are in close contact with a view to exploring means to more effective and enhanced cooperation. Furthermore, Turkey is planning a large project this year for the renovation of the Kapıkule border check-point. We understand that Bulgaria has similar plans for the Kapitan- Amdreevo border check-point and both sides are discussing ways to coordinate and cooperate in the implementation of the renovation projects.