Bulgaria and Romania signed a memorandum of understanding to integrate their energy markets, Bulgarian Economy, Energy and Tourism Minister Traycho Traykov said after signing the instrument with Romanian Economy, Trade and Business Environment Minister Ion Ariton.
The integration of the two countries' energy markets will help make their energy systems more reliable and improve economic efficiency in South East Europe, Traykov said. The signing took place on the sidelines of a South East Europe Energy Conference in Sofia.
"As EU countries, Bulgaria and Romania follow the same rules, but as we also have joint projects, this document sets principles for accelerated cooperation, including between the two countries' energy exchanges," Traykov said. He added that the Romanian energy exchange has been operating successfully for years, and Bulgaria aspires to acquire an operational energy exchange by the end of 2011.
"There are many areas in which we will derive more benefits if we cooperate," he said.