Bulgaria Invites BMW, EADS to Invest

Business | October 21, 2010, Thursday // 20:26|  views

Bulgarian Economy MInister Traikov (middle) at a meeting with the BMW management in Munich. Photo by Council of Ministers

Economy Minister Traikov has invited German car-maker BMW and the European Aeronautics Defense and Space Company (EADS) to consider investment options in Bulgaria.

Traikov met with representatives of BMW and EADS in Munich on Thursday, on his second day from his visit to Germany's Free State of Bavaria. He was accompanied by the Bavarian Minister of Economy, Infrastructure, Transport, and Technology Martin Zeil.

"Bulgaria is creating favorable opportunities, and is encouraging investment activity in the filed of IT, green technologies, and energy efficiencies. We are focusing on products with high added value. Germany is already registering growth after the crisis and will start looking for opportunities abroad. We want to attract its focus on Bulgaria," Traikov commented after meeting with representatives of the Bavarian government and German companies.

"Bulgaria is not a producer of cars but we are a good producer of car parts and components," the Economy Minister told the management of BMW at a meeting, according to the Council of Ministers press service.

The BMW management has praised the work of a Bulgarian company, whose name was not revealed, as a provider of car components, and said the company intended to expand its partnership with Bulgarian companies. Traikov invited BMW to consider Bulgaria as an investment destination with respect to the production of electric cars.

With EADS, the largest European airspace and defense concern, Traikov discussed options for offset deals. His meeting with EADS in Munich is said to be a follow-up of talks at the Bulgarian Economy Ministry, which presented to the concern 60 companies that could be of investment interest.

Traikov and Zeil also had talks with representatives of the Munich Chamber of Handicrafts.

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Tags: BMW, EADS, European Aeronautics Defense and Space Company, Traicho Traikov, Bavaria, Germany, car parts, car manufacture, Economy Minister


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