Business news

MINSK, 24 September (BelTA) – There is positive dynamics in Belarus-Bulgaria trade, BelTA learned from Belarusian Deputy Minister of Foreign Affairs Alena Kupchyna.

The official said that in 2014 Belarus-Bulgaria trade totaled $107 million, 33% up from 2013. Positive dynamics was registered in January-July 2015. The bilateral trade is dominated by products with a high added value and high-tech products.

The Belarusian Deputy Minister of Foreign Affairs said that Bulgarian investments in Belarus have been on the rise in the last few years. Since 2009 the volume of Bulgarian investments has increased by 40 times from $300,000 to $12.5 million.

The official stressed that economic relations between the two countries have great prospects. They are based not only on the mutual interest of private businesses and the governments but the solid friendly and partnering relations between the two nations.

A session of the Belarusian-Bulgarian intergovernmental commission on trade, economic, scientific and technical cooperation is scheduled to take place in Minsk on 23-25 September. Alena Kupchyna said the session was very successful and effective. The sides discussed the current state and prospects of development of bilateral cooperation in the production sector, agriculture, standardization, transport, science and technology, sport and tourism, the development of investment activities, and interaction at the regional level.

During the session the sides signed agreements on cooperation in sport and agriculture. A memorandum on cooperation between the National Agency of Investment and Privatization of Belarus and the InvestBulgaria Agency (IBA) was signed during the business forum that took place at premises of the Minsk branch of the Belarusian Chamber of Commerce and Industry.

The Belarusian Deputy Minister of Foreign Affairs said that an agreement on cooperation between the chambers of commerce and industry of the two countries will be signed soon.

In turn, Bulgarian Deputy Economy Minister Daniela Vezieva said that the two countries intend to expand cooperation in the development of innovative technologies. According to the Deputy Economy Minister, it is important to ensure an uninterrupted and continuous flow of information between Belarus and Bulgaria. Daniela Vezieva thanked Belarusian colleagues for their hospitality. She noted that the conversation had been constructive and positive.