South Korea has made a proposal to launch a car assembly operation in Bulgaria, announced Foreign Ministry spokesperson Elena Poptodorova on Friday.

The issue was raised during political consultations in Sofia between the Bulgarian Foreign Ministry and the Korean Ministry of Foreign Affairs and Trade. Deputy foreign minister Ivan Petkov and his Korean counterpart Choi Sung-Hong, who was on a one-day visit in Bulgaria last week, led the two delegations.

The Korean delegation raised the issue of the high import tariffs on cars made outside the European Union. Foreign Minister Solomon Passi suggested that Korean cars be assembled in Bulgaria, Poptodorova said.

Passi stressed that, being the centre of a large region, Bulgaria can ensure a market for the cars in neighbouring areas. Bulgaria has good relations with the other countries of the region, which opens up good prospects for cooperation, he said. South Korea, the biggest Asian investor in Bulgaria, is prepared to deepen bilateral co-operation in spheres of mutual interest, Choi Sung-Hong said. He expressed a wish for bilateral economic ties to grow stronger since they do not correspond to the true potential of the two countries.

Passi also emphasized the need to intensify the political dialogue between the two countries, which established diplomatic relations 11 years ago, and invited his Korean counterpart Han Song-Su to visit Bulgaria. Passi stressed that Bulgaria's efforts towards integration into the Euro-Atlantic structures have not lessened efforts to develop relations with Asian countries, Korea included, but quite the contrary - it has enriched them with new possibilities. Passi noted that in light of the determination of the Bulgarian government to improve the country's economy, Bulgaria was currently a very suitable destination for investment.

The delegations discussed a number of issues related to bilateral relations and outlined concrete spheres in which co-operation should be expanded. Hailing Bulgaria's stabilizing role, the Korean side was interested in the country's position on regional problems and on the situation in Macedonia.

The Bulgarian delegation was informed of the efforts which Seoul was making to normalize relations between the two Korean states and to stabilize eastern Asia. The two sides expressed satisfaction at the good level of bilateral co-operation within international organizations.