The Central European Initiative (CEI) is the oldest forum of its kind in the region and encompasses the largest number of member states, Petar Dimitrov, Bulgaria's Economy and Energy Minister, said at the wrap-up session of the CEI summit on November 21.

The session also represented a "relay" handover from Sofia to Chisinau, Moldova, which is to host next year's economic forum of the CEI. The area of CEI member states covers 2.4 million sq km and has a population of 250 million, half that of the EU, he continued.
The summit highlighted a vast number of areas of importance to the sustainable development of the region.

"More than 18 seminars informed 1400 business executives and 160 journalists of to-date achievements and challenges ahead of energy, infrastructure, information and communication technologies, public and private partnerships, small and medium enterprises, all vital to the sustainable development of countries in the CEI," said Guido Paolucci, head of CEI's project secretariat. "And sustainable development is the overarching goal for all CEI countries."

He went on to say that the large number of participants was essential as "only through an increase of co-operation can we brighten our future".
Dimitrov also tackled one of the not so "bright" issues that would remain a challenge for the region in the future - energy. He reiterated the worries of the National Electric Company (NEC) voiced the day before, which alerted of a five terawatt hour electricity shortage in the region.

While Bulgaria used to fulfil 80 per cent of the energy requirements, currently it has the capacity to fill 20 per cent at most following the closure of units three and four of the Kozloduy nuclear power plant, Dimitrov said.

He would not raise the issue of re-opening the units, rather, communicated Bulgaria's request to the European Commission that it be allowed to build environment-friendly coal power plants to help restore the energy balance in the region.

The minister was also satisfied that no criticism came up during discussions of the Nabucco and South Stream gas pipelines that were to traverse Bulgaria.

He also underscored that people realised the importance of building inter-linked capital markets in the regions to ensure the generation of new securities and attract more bourse investors.

Small and medium enterprises, he went on to say, were very important to the development of all countries in the region and they should take advantage of training opportunities by applying for EU funds, in particular through structural funds and Bulgaria's operational programmes.