Bulgaria's imminent accession to the European Union on January 1, 2007, will open up new horizons for economic cooperation with Greece, according to the conclusions of a conference titled "Bulgaria, Greece, Cyprus: The common European future" hosted in Bulgaria by the Hellenic Business Council, in the framework of the SE Europe International Business Forum.

Addressing the event, Greek ambassador to Bulgaria Danae-Magdalini Koumanakou reiterated Athens' standing support of Bulgaria's EU prospect throughout that country's entire accession course, while the Charge d'Affaires of the Republic of Cyprus embassy, Stavros Avgoustides, noted that "Cyprus welcomes Bulgaria to the United Europe, and is certain that its contribution, as a member-state, will be substantial and constructive".

Commercial transactions between Greece and Bulgaria, which have been on the rise in recent years, reached a record 1.4 billion euros in 2005, Greek embassy economic and commercial attaché Dimitris Ziomas told the conference, adding that Greek exports to Bulgaria last year reached an estimated 813 million euros, while bilateral trade in the first half of the current year jumped by 62 percent over the corresponding period in 2005.

He also noted that Greece was the second largest investor in the Bulgarian market, after Austria, with invested Greek capital reaching 1.364 billion euros in the first half of 2006, accounting for 11.52 percent of total foreign investments in that country.

Source: Athens News Agency

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