The Union of Industrial and Employers' Confederations in Europe (UNICE) vowed its support to Bulgaria and Romania on their way to the European Union (EU).

The Bulgarian Industrial Association (BIA), a UNICE member, announced that the majot organization has sent prepared reports, which assess respectively the accession status of Bulgaria and Romania from a European business perspective. They were sent to Enlargement Commissioner Ollie Rehn, as a contribution to the European Commission's comprehensive monitoring reports on Bulgaria and Romania to be published on October 25.

In order to assess Bulgaria's readiness for accession, in 2005 European business carried out a crosssectoral and international survey among, industry, commerce and services which work in or with the country. The findings are the basis for a general assessment of the country as well as specific recommendations from companies to Bulgaria. Building on this, business recommends Bulgarian accession to the EU in 2007 provided that reform efforts are pursued.

The report on Bulgaria says that macroeconomic stabilization, progress with structural reforms as well as the clear prospect of EU membership have increased European companies' interest in Bulgaria as a business location in recent years.

Companies see Bulgaria's strength as a business location in its willing and well trained workers, generally available in adequate numbers. A positive assessment is also given to improved access to bank loans and the Bulgarian tax system with a 15% corporation tax rate.

With regard to the investment climate as well as complete transposition and implementation of EU law, European business sees a continuously positive upward trend over the last three years. European business expects all political forces in the country to focus their efforts on further improving and stabilizing the business environment as well as on securing full and even transposition and implementation of EU law at all levels across the country.