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Denis Manturov And Temenuzhka Petkova Held The Russian-Bulgarian Intergovernmental Commission

A regular meeting of the Intergovernmental Commission on Economic, Scientific and Technical Cooperation between the Republic of Bulgaria and the Russian Federation was chaired by the Minister of Industry and Trade of the Russian Federation Denis Manturov and the Minister of Energy of Bulgaria Temenuzhka Petkova .

At the meeting, the parties discussed key issues of bilateral cooperation. According to the head of the Ministry of Industry and Trade of Russia, the interstate dialogue is reflected in the dynamics of bilateral trade:

“Russia ranks second among the main trading partners of Bulgaria outside the European Union. Our mutual trade turnover grew to $ 3.5 billion last year. Russian exports to Bulgaria reached $ 2.9 billion. Imports amounted to $ 525.2 million. About 20% of Russia's total exports to Bulgaria are non-oil products - machinery and equipment, metals and products from them, chemical products and rubber ",

- said Denis Manturov.

Also at the meeting, they discussed the development of investment cooperation. Thus, according to expert estimates, the amount of direct accumulated Russian investments in Bulgaria is about 8 billion euros.

Among the most significant investment projects are the acquisition and modernization by the Lukoil Group of Companies of the largest oil refinery Neftohim Burgas in the Balkans.

“Our oil giant has decided to continue investing in the Bulgarian economy and since May last year has been building additional capacities. The investment will amount to 1 billion euros. The amount of accumulated Bulgarian investments in Russia, according to our data, is about $ 103 million. We urge our Bulgarian friends to more actively explore the Russian market. Moreover, in our country, foreign investors are provided with a number of preferences, including preferential tax regimes, assistance in access to infrastructure, and the mechanism of special investment contracts ”,

- Denis Manturov declared.

In addition , the parties discussed cooperation in the field of energy, agricultural machinery, automotive, pharmaceutical industry, culture and tourism.

Following the meeting, the final protocol of the Intergovernmental Commission was signed, as well as a Memorandum of Cooperation between the RESTEC Exhibition Association and Inter Expo Center and a Cooperation Agreement between the Engineering Company INTERBLOCK Russia and Technoengineering Group BG.

 

 

 

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