Labour Minister Kalfin Confers with Canadian Trade Union Representatives


Sofia, February 11 (BTA) - Deputy Prime Minister and Minister of
Labour and Social Policy Ivaylo Kalfin conferred here on
Wednesday with the First Vice-Chair of the Canadian Fonds de
solidarite FDQ's Board of Directors, Daniel Boyer, and the
Executive Vice-President of FDQ's Management Committee, Denis
Leclerc, who were accompanied by the newly elected President of
the Podkrepa Confederation of Labour, Dimiter Manolov, Kalfin's
Ministry said.

The Canadian side explained FDQ's structure and workings, along
with opportunities for sharing experience in case such fund is
created in Bulgaria.

FDQ has some 651 owner-shareholders from SMEs in the Canadian
province of Quebec. Sixty per cent of the collected funds are
invested in the creation and retention of jobs in the SME
sector, Leclerc explained. He added that FDQ funds are also
being allocated for people who retire early until they become
eligible for retirement under Canadian law. FDQ's average return
since its establishment currently stands at over four per cent.


Kalfin noted that there is economic logic behind the way FDQ
functions. According to him, the large number of small
shareholders and the small-size investments create financial
security in the funds' activity. Kalfin expressed readiness for
his Ministry to cooperate in holding discussions on the
opportunities for creating similar funds in Bulgaria.