OREANDA-NEWSRussian Minister of Industry and Trade Denis Manturov spoke about plans to develop trade and investment cooperation with Bulgaria in an interview with the local newspaper Trud before the plenary meeting of the intergovernmental commission on trade, economic, scientific and technical cooperation, which is being held in Varna. “We expect that according to the results of the current year, our trade will continue to grow both quantitatively and qualitatively, and we intend to develop investment cooperation”, the minister stressed.

Manturov noted vivid examples of the successful implementation of large infrastructure projects. In particular, in the oil and gas sector, he noted the modernization by the Lukoil Group of Companies of the largest oil refinery Neftohim Burgas in the Balkans, where construction of additional capacities began in May last year, which made it possible to produce up to 150 thousand tons of polypropylene per year. A promising growth point, according to him, is agricultural machinery, where the Russian Federation is aimed at expanding the model line of supplied equipment with a parallel increase in the service network.

Russia ranks second among the main trading partners of Bulgaria outside the European Union and fifth - in the overall standings. Our mutual trade turnover grew to $ 3.5 billion last year, while Russian exports to Bulgaria reached almost $ 3 billion, and imports from Bulgaria amounted to more than $ 500 million”, Manturov said. 

In addition, Bulgaria is actively involved in the implementation of projects for the development of national gas transmission systems, which are a continuation of the Turkish Stream in Europe. The Russian Federation is also ready to take part in the implementation of the Belene nuclear power plant construction project.