Commodity exchange between Bulgaria and Germany dropped by 22 per cent in the first nine months of 2009, said Mitko Vassilev, Head of the German-Bulgarian Chamber of Industry and Commerce. He was addressing a working lunch of the Chamber members with Economy, Energy and Tourism Minister Traicho Traikov.

Vassilev specified that German exports to Bulgaria were down by over 30 per cent and German imports from Bulgaria by 28.5 per cent. German investments in Bulgaria almost halved during the season.

He said further that Prime Minister Boyko Borissov will visit Germany on January 25 and 26 and his delegation will include the Economy Minister.

On his part, Minister Traikov told representatives of the German business circles that amendments to the Public Procurement Act are being contemplated. The draft amendments envisage removal ofthe requirement towards companies' managerial agents to present conviction status certificates.

During the current year there will be considerable differences in the functioning of Operational Programme Competitiveness in terms of volumes of contracting, extended funds and working styles, the Economy Minister stated.

Two hundred million euro under the JEREMIE instrument will be used mostly for risk financing and, to a more limited extent, for credit lines, he went on to say. The concept envisages establishment of three sub-funds: of smaller investments, of investment in companies in a stage of growth and a sub-fund involving credit financing.

Minister Traikov said that the Bulgarian Development Bank is about to be transferred under the jurisdiction of the Ministry of Economy, Energy and Tourism.

Source: BTA