On 4 February 2014 Automotive Cluster Bulgaria (ACB) and the Autocluster of Saxony (AMZ) signed a cooperation agreement in the Executive Lounge hall at Grand Hotel Sofia. Bulgaria can count on cooperation and assistance for the development of its automotive industry by the German State of Saxony. Rosen Plevneliev, President of the Republic of Bulgaria also took part on the ceremony. He declared that ACB has succeeded in bringing together 28 companies, providing over 10,000 jobs in the country, but the potential for development is much bigger and promised that the country will strongly support this initiative.