Ministry of Transport, Information Technology and Communications

The minister of Transport, Information Technology and Communications Danail Papazov took part in the summit on transport, logistics and commercial corridors “Connecting Asia to Europe”. The conference took place in the period 3-4 June 2014 in Riga, Latvia. 

The participants in the conference discussed the challenges, common projects and future vision for cooperation between China and the countries in Central and Eastern Europe in the field of transport. The main topics included the plans for investment cooperation and building transport infrastructure, roads, railway lines, ports, and airports. The opportunities and barriers that hamper the development of European corridors on transport and logistics were also discussed, as well as the role of the Central and Eastern European countries in trans-continental commercial flows and infrastructure development. 

Minister Danail Papazov noted that concerning the development of modern and economically effective transport sector Bulgaria prioritizes the development of railway and road infrastructure along the major tracks of the Trans-European transport network. The plans envisage improving intermodality in passenger and cargo transportations.

The main financial resources for investment in transport infrastructure are the European financing tools in addition to the state budget and international loans. The two most important European instruments are the Cohesion Fund, which finances up to 85% of the permissible costs on a large infrastructure project, and the European Regional Development Fund, which promotes economic and social cohesion.

Among others the conference was attended by ministers, government officials, representatives of the business, the academic filed, logistics and transport specialists from China and the Central and Eastern European countries, as well as other stakeholders to discuss the various ways of cooperation in the sector.