Greece and Bulgaria's transport ministries signed a memorandum of cooperation on Wednesday in the presence of Prime Ministers Alexis Tsipras and Boyko Borisov.
The two prime ministers now hold a joint press conference.
The memorandum will speed up the planned construction of a railway network that will connect Black Sea ports with those of northern Greece. It will include the preparation of all the technical, economic and legal elements necessary for the creation of the body that will implement and manage the project.
The railway line will link the ports of Thessaloniki, Kavala and Alexandroupoli on the Aegean Sea with Bulgaria's Burgas, Varna on the Black Sea and Port Ruse on the Danube River. It is expected to create a new freight corridor that will boost the development of the ports and turn them into important trade hubs in the region.