13.03.2012

The Ministers of Finance of Bulgaria and Austria signed a Partnership Agreement under the project "Strengthening the administrative capacity of the Ministry of Finance in the area of financial services and markets" within Operational Programme Administrative Capacity co-financed by the European Social Fund.

The future partnership is aimed to refine the practices employed in drafting qualitative and effective legislation in the area of financial services and financial markets.

Project implementation will support the operation of civil servants in the field of financial services when analyzing, arranging and conducting effective policies. The improved quality of legislation in this field would be beneficial for businesses, supervision, consumer protection, etc.

Improving the capacity of Bulgarian and Austrian partners participating in the work of EU institutions both for refinement of domestic legislation and for devising of ides in the area of financial services at EU level in order to develop this sector within the single market is expected as a result of this better cooperation.