site.btaBulgaria Proposes Joint Ventures in Ship Building, Hi-Tech Production to Russia

Bulgaria Proposes Joint  Ventures in Ship Building, Hi-Tech Production to Russia

Sofia/Saint Petersburg, June 16 (BTA) - Meeting Russian Minister of Industry and Trade Denis Manturov, Bulgarian Economy Minister Bozhidar Loukarski proposed to form Bulgarian-Russian joint ventures for the production of high-tech items and ones with high added value, which will then be sold on the markets of Russia, the EU and third countries. The two met within the 20th jubilee International Economic Forum held in Saint Petersburg from June 16 to 18. Attending the opening of the forum were European Commission President Jean-Claude Juncker, ministers and delegations from across the world.

Loukarski and Manturov discussed the possibility for the promotion of two-way trade, Loukarski's Ministry said.

"We are ready to provide assistance for the establishment of joint ventures," said Minister Loukarski. In particular, he proposed joint production of sea vessels and floating platforms. Loukarski familiarized his Russian counterpart with the results of the meeting of the Bulgarian-Russian Group for Ship Building. He raised the issue of restoring the joint production of drive axles for the Russian truck manufacturer, Kamaz, in Bulgaria.

The two interlocutors agreed that there are prospects for the development of bilateral cooperation at regional level. They discussed the implementation of the mutual trade agreement between entities of the Russian Federation by regions and Bulgaria. It was noted that this issue is particularly important for the achievement of economic growth in Bulgaria.

Loukarski also noted the need of a fuller use of the potential of the Bulgarian Industry Centre in Moscow through which more joint business forums and participation in exhibitions can be organized.