Regional integration crucial to SE Europe development: Bulgarian president

Bulgarian President Rosen Plevneliev said on Tuesday regional integration, connectivity and good neighborly relations were the foundation of economic development of Southeast Europe and a guarantee for the future.

The region of Southeast Europe is a key driver of Bulgarian exports and economic growth, and cooperation is a decisive factor for positive development, Plevneliev said while addressing an annual conference which was held under the topic "Bulgaria amid global uncertainty."

In just the past five years, Bulgaria's exports to countries in the region increased by 50 percent, while the total trade turnover between Bulgaria and the region has doubled, reaching almost 9.8 billion U.S. dollars, Plevneliev said.

"Over the last decade, the trade exchange between Bulgaria and Romania grew tenfold, tripled between Bulgaria and Serbia, and between Bulgaria and Greece increased sixfold," Plevneliev said.

Above all, Bulgarian businesses should think regionally, and not limit their thinking and ambitions only to Bulgaria, he said.

Only acting together, the region of Southeast Europe is interesting for global investors, can be competitive, and attract more investments, Plevneliev said.

China is benefiting from the dynamics of the region, the Bulgarian President said.

Meanwhile, the European Commission plans to invest over 55 billion dollars in the region by 2020, he added.

However, the business environment in Bulgaria and the region could be much better, Plevneliev said.

Urgent reforms are needed not only in Bulgaria but also in the region, including the introduction of a functioning judiciary system, e-services, e-government, full transparency in public procurement, and anti-corruption legislation, he said. Endit