Greek Economy and Finance Minister George Alogoskoufis, who is paying a working visit here at the invitation of Finance Minister Plamen Oresharski, conferred here on Friday with Bulgarian Prime Minister Sergei Stanishev, the Government Information Service said.

Bulgaria and Greece have common strategies for development of the region, for economic and political cooperation, the PM told the guest. Stanishev stressed that thanks to their geostrategic location, the two countries play a key role in implementation of the major infrastructure projects linking the Old Continent with other regions. He noted that the construction of the Bourgas-Alexandroupolis oil pipeline will boost the energy security of both Bulgaria and Greece.

The Bulgarian and the Greek Governments will continue the implementation of joint infrastructure projects, modernization of the transport network and communications in the border areas and along the route of Pan-European Transport Corridor IV (Berlin/Dresden-Nuremberg-Prague-Vienna/Bratislava-Gyor- Budapest-Arad-Craiova-Vidin-Sofia-Thessaloniki). It was emphasized at the meeting that a number of projects under the Phare Cross-Border Cooperation Programme will be implemented and that fine prerequisites have been created for invigoration of economic cooperation, including for Bulgarian investments in the Greek economy.

Earlier in the day, Alogoskoufis conferred with Finance Minister Plamen Oresharski, Economy and Energy Minister Peter Dimitrov, and Regional Development and Public Works Minister Asen Gagaouzov.

The two finance ministers discussed cross-border cooperation, the implementation of Greece's Balkan Reconstruction Plan, partnership between their ministries at the EU Economic and
Financial Affairs Council (ECOFIN), and deepening cooperation between the two customs administrations. Oresharski and Alogoskoufis attended a business breakfast with the Hellenic Business Council in Bulgaria.

Alogoskoufis and Gagaouzov agreed that the two countries have identical problems about the implementation of the Bourgas-Alexandroupolis pipeline project and they will try to solve these problems in favour of the minority participants in the project, Gagaouzov's Ministry said in a press release.

The guest offered Greek help for the implementation of EU-funded projects in Bulgaria. The infrastructure between the two countries is particularly important because Bulgaria is the only EU Member State with which Greece has an overland link, the Greek Minister said, quoted in the press release.

Gagaouzov recalled that concession procedures for the Hemus, Black Sea and Strouma motorways will be announced in 2008.

At 586.8 million euro, Bulgaria's trade with Greece in the first half of 2007 was 28 per cent larger than in the like period a year ago, ranking Greece as Bulgaria's fifth largest trading partner, after Germany, Italy, Russia and Turkey. Two-way trade grew 19.7 per cent in 2006.

The stock of Greek investments in Bulgaria totals 1,705.34 million euro, nearly 9 per cent of the total amount of foreign direct investments in this country. Greek interests invest mainly in telecommunications, banking and industry.