Romania and Bulgaria's EU entry gives new trade and investment opportunities

The EU accession of Bulgaria and Romania on January 1 2007 created new economic opportunities for all union member states, Economic Outlook reported.

Bulgaria and Romania have small economic weight and failed affecting significantly EU structures, the report said. At the same time the enlargement offered new investment and trade chances.

Though the GDP per capita in the two countries is still low, Bulgaria and Romania are developing fast, the report said. Domestic demand and investment growth produced positive developments, Bulgarian news agency BTA reported.

Europe at the same time experienced favourable economic developments. Real GDP growth for 2007 is estimated to reach 2.6 per cent for countries in the union.

Economists said that 2006 saw the strongest performance of the European economy in many years. Higher domestic demand and strong global activity produced the positive effect.

Dynamic economic developments occurred in older member states, as well as in new union members. Some of the countries that feature the most dynamic economies include Ireland, Finland, Sweden, Greece, Spain and Austria, the report said.