All the necessary prerequisites for more mutually profitable cooperation between Bulgaria and Russia are present, Bulgarian PM Sergei Stanishev was firm.

He opened a forum dealing with the trade and economic cooperation between the two countries.

Stanishev stressed the importance of the energy projects, pointing out the selection of AtomExportStroy as a main implementor of NPP “Belene” and the Bourgas-Alexandroupolis oil pipeline agreement.
Our economic cooperation does not end with these projects, noted the prime minister claimed that the project “South stream” stipulates for bigger gas supplies. Russia, Greece, Italy and Bulgaria are participants in this project and its realization could really transform Bulgaria into an energy hub of the Balkans.

Stanishev did not omit to note that a main problem is the disbalance in Bulgaria' s trade with Russia. He reminded that it was not accidental both governments to have program, which includes measures for improvement of the trade balance.

Among the Bulgarian government's priorities is to search for possibilities for more balanced trade, underlined Bulgarian PM and pointed as encouraging the fact that in 2006 Bulgarian export to Russia has grown with 35%.

The lack of direct transport connections for the goods continues to be serious problem in the trade, said Stanishev and added that the governments are conduting intensive talks on the establishment of a naval transport connection.

According to Stanishev there is growing investment interest by Russia not only in real estate but also in production in Bulgaria.

Bulgarian PM stressed the importance of tourism, since this sector helps for the problem with the trade deficit to be partially resolved. This year 250 thousand Russian tourists are expected to visit Bulgaria, pointed Stanishev.

Stanishev noted that so far Russian investment are $ 300M, half of which are in “Neftohim Bourgas”.

Academic Evgeni Primakov, who is chairman of the Russia chamber of trade and industry, informed that today a memorandum for future cooperation with Bulgarian chamber of trade and industry would be signed.

He commented that investment development should be strengthened and small and medium-size business should be encouraged.

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