Банкеръ Weekly

Briefs

WAYS OF BOLSTERING ECONOMIC COOPERATION WITH JAPAN SOUGHT

Japan's commitment to provide financial aid for Bulgarian projects was confirmed by Japanese Ambassador in Bulgaria H.E. Yasuyoshi Ichihashi at the 18th session of the Japanese-Bulgarian Economic Committee on July 3, which coincided with the 30th year since bilateral cooperation started. According to data presented by the Ambassador, the Japanese Government has released financial aid for more than 18 Bulgarian projects since 1998. Among the sectors in which Bulgaria is willing to cooperate with Japanese companies Bozhidar Bozhinov, Chairman of the Bulgarian Chamber of Commerce and Industry (BCCI), pointed out the energy sector, environment protection, transport and infrastructure projects, leisure industry and finances. The participants in the forum underlined that Bulgaria can draw on Japan's experience for boosting the economy's efficiency and application of high technologies. They were unanimous that the elimination of trade barriers and an increase of Japan's direct investments are factors that will help expand the economic and financial cooperation between the two countries. Bulgaria needs appropriate infrastructure for access to the market and good production conditions, Akira Vatagi, former chairman and presently an expert of the Japanese-Bulgarian Economic Committee, said. According to him, Bulgaria should use its advantages, such as its excellent geographic situation and the fair cooperation between the two countries' governments, which has existed so far.Commercial exchange with Japan has gone down for the last ten years, currently being just a half of the 1989 levels. In 1989 turnover between Bulgaria and Japan stood at some USD193MN

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