The Greek Minister of Economy and Finance: Bulgaria is a more important economic partner of Greece than many think

Bulgaria is a more important economic partner of Greece than those who do not regularly deal with international trade and economic relations would think, said Greek Minister of National Economy and Finance Kostis Hadzidakis, who attended the opening of the Bulgarian pavilion at the Thessaloniki International Fair.

The opening was unofficial due to the natural disaster that has hit Greece in recent days, where at least 10 people have died as a result of devastating floods. "It is a great honor for me to be here today together with the Minister of Economy and Industry of Bulgaria Bogdan Bogdanov, with my colleague, the Minister of Finance Asen Vasilev, as well as with the Minister of Tourism of Bulgaria Mrs. (Zaritsa) Dinkova," said Hadzidakis, BTA reported.

He focused on the human victims and the unprecedented material damage that Greece has suffered in recent days, expressing condolences on behalf of the Greek government and society to the relatives of the victims of the floods in Bulgaria.

"In these critical moments, solidarity is also necessary in our relations", declared the Greek minister and noted that "in these difficult moments for all of us, Greece and Bulgaria continue to find ways to cooperate and strengthen their bilateral relations".

"As I already noted, this year Bulgaria is the country of honor at the 87th Thessaloniki International Fair, but also a very important partner for Greece - more important than someone who does not deal specifically with trade and international economic relations might think. Bulgaria is the second most important market for Greek exports. It is a very important destination for significant Greek direct investments, and every year over 1 million Bulgarian tourists visit Greece. However, there is great scope for further deepening of our cooperation. Mr. Vassilev has already focused on transport, on the necessary development of all possible cross-border connections, whether it is road or rail connections, which, together with developments within the Schengen area, will undoubtedly bring the two countries even closer "said the Minister of Economy and Finance of Greece.

Hadzidakis mentioned in his speech the opportunities for cooperation in the field of innovation and new technologies, as well as in the field of energy. He focused on the commissioning of the IGB gas interconnector, on the planned implementation of the Burgas - Alexandroupolis oil pipeline project, but in the opposite direction - from Greece to Bulgaria. The Greek minister also highlighted the possibilities of natural gas storage - on the one hand in the Bulgarian storage facility in Chiren at the expense of Greece, and on the other hand - to ensure Bulgaria's access to relevant quantities of liquefied natural gas in the Greek terminal in Revitusa.

In conclusion, Hadzidakis touched on yesterday's upgrade of Greece's credit rating to investment grade by the Canadian rating agency DBRS for the first time in 13 years.

"This recognition comes at an extremely difficult time for all Greeks. However, this does not change the fact that it is a positive development for our economy, an essential tool for the country to borrow in the markets easier and cheaper, to increase the liquidity of our economy, to attract more investments and to create more jobs in Greece. The investment credit rating is a vote of confidence for the Greek economy and the government is committed to ensuring that its benefits are distributed fairly throughout Greek society," Hadzidakis said.