Qatar will invest in Bulgarian energy

Publication: New Europe/News Corporation S.A.
Date: November 19, 2007

Oatar is considering Bulgaria’s proposal to invest in a terminal for natural gas at the Black Sea coast. This became clear after the official meeting between President George Parvanov and the Emir of Qatar Sheikh Hamad bin Khalifa Al -Thani in Doha, Darik Radio reported. Parvanov handed over the order “Stara Planina” with a ribbon to the Emir of Qatar, saying that he wanted to thank him for the support and solidarity in moments of importance for Bulgaria. The Emir rendered significant assistance to Bulgaria during the negotiations for freeing of the Bulgarian medics, who had been sentenced to death in Libya before being released. The Bulgarian president and the Emir confirmed the commitment of both countries to continue assisting the international fund for medication of the Libyan children infected with AIDS in the future. In his turn, the Emir rewarded the Bulgarian president with the Necklace of the Independency of Qatar. He accepted the invitation of Parvanov to visit Bulgaria officially. Later, Parvanov opened a Qatar-Bulgarian business forum. The Bulgarian president offered about 30 Qatar businessmen, participating in the forum, cooperation in six fields – energy, infrastructure projects in the Balkans, tourism, military-defence industry, research, extraction and processing of metals and new technologies including management software. Parvanov gave five reasons to convince the Qatar businessmen to invest in Bulgaria: membership in the EU, good relations with neighbours, economic and political stability, attractive tax legislation and qualified personnel. The commercial balance between Bulgaria and Qatar is only about a quarter million dollars annually. In many fields, Bulgaria doesn’t have settled relations with the Arab country, which is third in the world, after Russia and Iran, in natural gas reserves. Part of the problems will be overcome with the signed contracts for mutual encouragement and protection of the investments, agreement for cooperation in tourism and memorandum between the ministries of foreign affairs, which will provide for opportunities for opening embassies.