The Ministry of Economy and Energy was incorporated by decision of the Bulgarian Parliament in August 2005 through the merger of the Ministries of Economy and Ministry of Energy and Energy Resources.The Ministry of Economy and Energy is working on the development of the economic and energy policy of the Bulgarian state. The common trends in this policy are increasing the competitiveness of the national economy and the various institutions, encouraging investments, innovations, entrepreneurship, exports, modernization of the industrial base, stimulating measures on energy efficiency in the industry and the use of renewable energy resources. It also takes part it the implementation of the integration policy and effecting foreign economic cooperation.