News ID: 251567
Published: 0256 GMT April 17, 2019

Bulgaria approves draft of economic MoU with Iran

Bulgaria approves draft of economic MoU with Iran

Bulgarian Prime Minister Boiko Borissov’s cabinet approved on Wednesday a draft memorandum of understanding on economic cooperation with Iran as a basis for negotiations, the government information service said.

The purpose of the memorandum is to specify the prospective areas of bilateral cooperation and the measures that both countries will take to expand and intensify economic cooperation, the statement said, according to

“There will be encouragement of contacts between business representatives from the two countries, exchanges of business visits, participation in fairs and exhibitions, which will be held in both countries, and organization of events,” the Bulgarian government said.

The memorandum also provides for cooperation between Bulgaria and Iran to build on the contractual basis of economic relations in order to deepen mutually beneficial cooperation in the commercial and economic sphere, it said.

There have been a number of high-level contacts between the governments of Bulgaria and Iran in recent years.

In January 2019, Bulgarian Foreign Minister and Deputy Prime Minister Ekaterina Zaharieva held talks with Iranian Deputy Foreign Minister Abbas Araqchi.

Also in February 2018, Zaharieva held talks in Sofia with Iranian Foreign Minister Mohammad Javad Zarif, who also met Prime Minister Borissov and head of state, President Roumen Radev.

Borissov and the Iranian Foreign Minister discussed ways to deepen economic relations between the two countries, Borissov’s office said at the time.

Radev said that Bulgaria was interested in deepening partnerships with Iran in trade, energy and scientific cooperation.

In November 2017, the Economy Ministry hosted a Bulgarian-Iranian business forum in Sofia.

The ministry said that at the forum, addressed by Deputy Economy Minister Alexander Manolev, representatives of 15 Iranian dairy companies had been exploring opportunities for partnership and investment in Bulgaria.

In September 2017, during a visit to the United Nations in New York City, President Radev met with Iranian President Hassan Rouhani. A year earlier, Radev’s predecessor, Rossen Plevneliev, also held talks with Rouhani.


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