Банкеръ Weekly

Briefs

BULGARIAN-MACEDONIAN INDUSTRIAL ASSOCIATION TO BE SET UP

The second session of the joint Bulgarian-Macedonian economic forum was held on June 23 and 24 at the Bulgaria hotel in Sofia. An agreement for the establishment of a Bulgarain-Macedonian Industrial Association, aimed to facilitate mutual investments, was signed on June 23 by the heads of the Bulgarian and the Macedonian industrial associations Bozhidar Danev and Dushan Petrovski. An agreement for unification of the trade-point systems (for reporting the two countries' exports) was reached as well. According to Mr. Danev, the low capital-to-assets ratio of Macedonian banks is one of the main causes for the not particularly active bilateral commercial relations.The forum was within the framework of the visit of a delegation of 30 Macedonian company leaders, headed by Macedonia's PM Branko Crvenkovski and the country's Economy Minister Iliya Filipovski, who arrived to Bulgaria on the invitation of BSP leaders. A few months ago a delegation of more than 20 Bulgarain businessmen headed by the BSP Chairman Sergei Stanishev, visited our Southwestern neighbour. The Bulgarian Minister of State Adminsitration Dimitar Kalchev, who also attended the forum, announced that several new border check points between the two countries would be opened - Chernata Skala, Brestovo and Klepalo. Trade exchange between Bulgaria and Macedonia has increased by 7% since 1992, Mr. Kalchev specified.

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