Банкеръ Weekly

Briefs

A TRANSIT TRADE ZONE IN VARNA IN FOUR YEARS

A transit trade zone in Varna will be ready to operate in four years, the implementation of a project for this starts in May, Varna Regional Vice Governor Yulian Gendov told a news conference.
Preliminary talks have been held with the transit zone in Rousse on the Danube RIVER on a duty-free flow of goods between the two cities. Bulgaria will thus get an inland duty-free corridor which could attract freight forwarders operating along Rhine-Main-Danube to Turkey and the Arabian Peninsula.
The project was approved by a Council of Ministers Decision on March 29. The total project cost is 8.6 million leva. One hundred and sixty-seven jobs are to be created, apart from the employees which companies operating in the zone will appoint. The Varna zone could also accommodate processing facilities, Gendov explained. He believes that the European Bank for Reconstruction and Development will provide the necessary funding.

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