President of the Republic of Finland Tarja Halonen's opening speech at the Finnish-Bulgarian Economic Seminar in Sofia, 25.2.2003

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The last few years have opened up quite new perspectives for economic relations between Finland and Bulgaria. The ending of the cold war made possible the start of new cooperation. The European Union has expanded rapidly and integration continues to deepen within its sphere.

Finland became a member of the EU at the beginning of 1995. We believe that the Union should be a major European factor. The enlargement should thus cover those Central, Eastern and Southern European countries that have adopted democracy and a market economy, and that are prepared to meet the criteria for membership. This is the starting point from which Finland has given its support for Bulgaria's membership aspirations.

A centuries-old friendship has prevailed between Finland and Bulgaria. Finnish soldiers took part in the battles that led to Bulgaria's independence as far back as 1877-78. Our cooperation today is still at a modest level. This mainly concerns trade and economic cooperation; cultural exchange has been livelier and Finnish tourism has been strong to the golden sands of the Black Sea coast.

I believe that Bulgaria's participation in the integration of Europe and its membership in time of the EU also signify a new phase in Finnish and Bulgarian economic relations. There are new kinds of opportunities for trade and investment being offered, which I hope the representatives of both countries will take up.

The EU Summit last December in Copenhagen made a historic decision to take 10 new members. Bulgaria has participated right from the beginning in the negotiation process that is at present going on. Its goal is for the Accession Treaty to come into effect in 2007, provided that the conditions set for membership are complied with. Bulgaria has indeed progressed well in its negotiations. There is still, however, a lot of work before the last eight negotiation chapters can also be closed. But it is not just a question of negotiations. Only the implementation in practice of the acquis will bring the desired result. Democracy, human rights and a constitutionally governed state are the principles of the European Union. The importance of good governance continues to increase.

The Bulgarian government has started work to improve the efficiency of the administration and to improve the financial preconditions and operational possibilities for enterprises. I believe that you will continue resolutely along this road.

Already before the achievement of EU membership, many agreements made between the EU and Bulgaria, especially the Europe Agreement, improve the preconditions for economic relations. The agreements also open up opportunities for the financing of reform projects and basic investments with EU support. In our future evaluation of the development of Finnish-Bulgarian economic relations we must bear in mind that the trade policy of the EU countries is common and coordinated. The tools of the trade policy are in the EU Commission.

The recent positive development in Bulgaria has increased the level of interest in Bulgaria of Finnish enterprises and financial institutions, proof of which is the high-level delegation of businessmen that has accompanied me on this state visit. The members that make up the delegation reflect all those economic sectors in which Finland is strong and in which there is also a great deal to offer to Bulgarian partners.

The European Union creates the conditions for increased trade within the EU, but also opportunities for cooperation elsewhere in the globalising world. The neighbouring areas of the enlarged EU will be natural partners in this respect. We all need to attach great importance to the new policy of Wider Europe of the EU.

I wish you many hours of good work today and success in your endeavours to find the preconditions for joint projects that are mutually beneficial, both while the accession negotiations continue, as well as in time within the EU's internal markets.