site.btaBulgarian-Saudi Trade Relations Show Dynamic Upward Trend, Economy Minister Karanikolov Says

March 21 (BTA) - Bulgaria's trade relations with Saudi Arabia exhibit a dynamic upward trend, Economy Minister Emil Karanikolov said in a greetings address to a Bulgarian-Saudi business forum in Riyadh, his ministry reported on Thursday. Karanikolov pointed to a steady interest on the part of the two countries' business communities to cooperate in various fields.

The business forum involved over 80 Bulgarian and Saudi companies active in agriculture, foods, pharmaceuticals, mechanical engineering, information technology and tourism.

Karanikolov started a visit to Riyadh on Wednesday, when he talked with the Minister of Commerce and Investment, Majid bin Abdullah Al Qasabi, and the Minister of Economy and Planning, Mohammed bin Mezyed Altwaijri.

Karanikolov said: "We are coordinating an agreement on promotion and protection of investments. We also look forward to the establishment of a Joint Bulgarian-Saudi Intergovernmental Commission on Economic Cooperation, which will involve the signing of a statute for its operation. By concluding new bilateral agreements, we are confidently creating and deepening our new long-term partner relations of mutual benefit."

Annual two-way trade has grown considerably over the last decade, reaching more than 100 million US dollars, compared to far more modest volumes previously. Bulgarian exports to Saudi Arabia increased to more than 40 million dollars in 2018, the guest noted. RY/VE



/СН/