Petar T. Ivanov on bTV: We Expect the U.S.-Bulgarian Relations to Grow

“We expect change in the approach of the U.S. President Elect: from bilateral relations to multilateral that include the European Union in which Bulgaria is integral part. Also, we expect that the future administration will keep the achieved progress from the last couple of years,” said Petar T. Ivanov, CEO, AmCham Bulgaria at the opening of the interview with the bTV anchor Anton Hekimyan at the Morning Show, November 12th, 2020.

These words are inline with the fact that the biggest global economy is the Transatlantic one. The future is digital, and today’s data show that the share of digital content between the U.S. and Europe is 75% bigger that the one in the Pacific. “The United States is the sixth in terms of FDIs. On the other hand, Bulgaria has a positive trade balance with America – for goods and services. The three main sectors of export are Machinery and Equipment, Computers and products of the Chemical industry,” – he explained also.

In January 2020 U.S. and Bulgaria have started the process of the Strategic Dialogue. “Now we are among the strategic partners of the United States because of the global changes, as well as because Bulgaria is located in between the East and the West.” he said also.

Petar T. Ivanov commented the recent State Department Investment Climate Report 2020. “The report says that we have to have predictable environment instead of constantly changing legislation. There is a long way to be walked with regard the corruption and the rule of law, which are embedded the framework of the menetioned Strategic Partnership. The corruption perception is higher compared to other EU member states.” commented AmCham CEO.

He explained the importance of the next generation mobile networks, a.k.a. 5G networks with regard the signed Clean Networks Agreement between Bulgaria and the United States. “Such networks will control and manage everything around us. For example, the IoT will be part of 5G. Now, imagine that someone else controls our electric grid, and they can shut it down any time they want. Thus, the security of 5G is critical and the state should guarantee the independence of this infrastructure. Also, imagine that some non-democratic organization tries to control your networks since they have built those networks.” – explained Petar Ivanov the process and the impact of 5G.

Source: bTV Novinite