Russian Companies Interested in Building Hydraulic Structures in Bulgaria – Ambassador Isakov
Tuesday, 27 January 2015
Russia's Ambassador to Bulgaria Yuriy Isakov has emphasized the need for innovative approaches to developing economic and trade relations between the two countries.
Isakov met Monday with Bulgaria’s Economy Minister Bozhidar Lukarski.
Isakov, as cited by the press office of the Economy Ministry, informed that there had been a decrease by around 10% in trade between the two countries to a level of 4.2 billion US dollars in the first ten months of 2014.
Russia's Ambassador to Bulgaria noted that bilateral trade was still characterized by an imbalance, with Bulgaria’s exports to Russia amounting to around 500 million US dollars.
He suggested that one way of reducing the imbalance was to strengthen trade relations with Russian regions.
To illustrate his point, Isakov mentioned a newly launched shop for Bulgarian cosmetic products in Saint Petersburg, adding that it was enjoying great success.
As regards investment partnership, he reminded that the Lukoil Neftochim refinery in Burgas, owned by Russian oil giant Lukoil, was one of the biggest taxpayers in Bulgaria.
He informed that a number of Russian companies had expressed interest in building hydraulic structures, adding that Zarubezhvodstroy had signed a contract for a facility in Madan and Rudozem.
Isakov went on to say that there was also great potential for bilateral cooperation in the spheres of small and medium-sized enterprises and the processing industry.