A call for foreign investment from Economy Minister Nikolai Vassilev opened the 57th International Technical Fair in Plovdiv on Monday.

"Here you will find a new government with a new mentality and no tolerance for corruption," Vassilev told foreign companies. He and President Petar Stoyanov, as well as National Assembly speaker Ognyan Gerdjikov, attended the opening ceremony.

The minister also addressed Bulgarian companies with an appeal to create jobs and pay taxes in order to "build a richer and more modern Bulgaria."

On behalf of the government, Vassilev assured foreign business representatives that Bulgaria needs their expertise and investment.

The president expressed hope that the traditions of the reputed business forum will continue to bring Bulgaria closer to European Union membership. Addressing the participants and the guests, he said the Plovdiv Fair had promoted the economy for 109 years to make it equal to the developed European economies. "As the president of Bulgaria, as a citizen and a Plovdiv resident, I whole-heartedly support these ideas, which should be shared by this and any government in the future."

The International Technical Fair, one of the two multibranch exhibitions in the program of the Plovdiv International Fair, has a long history in creating business partnerships. This year's autumn fair is the largest in the last 10 years, with 2,086 companies taking part compared to the 1,891 exhibitors of the 2000 edition. The number has grown mainly because of the 17 per cent increase of foreign participation - from 819 to 995. Forty-one countries are represented at the 57th technical fair, five more than last year.

Information technologies, power engineering and ecology, construction and architecture, and chemistry are among the featured branches of industry in the specialized salons. Other dedicated exhibitions include AutoTech, ElTech and Machine Engineering.

An exposition of Balkan subcontractors and "Planet Safety 21st Century," a specialized exhibition of fire and emergency safety, which takes place every other year, complement the list of highlights.

A number of companies have exhibited innovations in fields such as road construction, software development and fire-fighting equipment within the framework of the specialized salons. At the conclusion of the week, new and improved high-quality products receive medals.

A bill concerning the relations of professional organizations with the executive and legislative branches of government has been moved in Parliament, it was announced on Tuesday.

Officials at the Economy Ministry and the parliamentary economic commission met with Bulgarian business people within the framework of the fair. The state officials invited the businessmen to contribute to the formulation of economic policies and the implementation of legislative initiatives.

The state will encourage small and medium-sized enterprises to take part in international exhibitions, Vassilev reportedly said. The government does not favour the introduction of a differentiated VAT rate schedule, he added. "The tourist sector must be exempt from VAT - we are defending this position before the International Monetary Fund," the minister told entrepreneurs.

Draft changes in the Privatization Act and the Act on Public Offering of Securities are to be submitted for consideration in Parliament shortly. Amendments to the Public Procurement Act should be passed before the year's end. International accounting standards are to be introduced by January 2004, Vassilev said. Opportunities will be sought to expand the mortgage market, he added.