Iran, Bulgaria sign industrial, trade MoU

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Road and Urban Development Minister Abbas Akhundi and Bulgaria Minister of Transport, Information Technology and Communications Ivaylo Moskovski signed a memorandum of understanding for bilateral cooperation in industrial, trade, transportation, agriculture, energy, meteorology, tourism and cultural fields.

Akhundi said the two sides had reached agreement for cooperation of export guarantee and insurance funds of the two countries. He added that banks of the two sides have also announced readiness for financial and monetary cooperation.
He further remarked that Iran and Bulgaria agreed on joint cooperation in the field of trade of high quality tobacco and on operation of a multi-dimensional transportation corridor from the Persian Gulf to the Black Sea.
The Iranian minister noted that development of overall cooperation between Iran and Bulgaria shows that the two countries attach great importance to the expansion of their relations.
Meanwhile, the Bulgarian minister said in the bilateral talks effective steps have been taken for the expansion of ties with Iran and assured that in the future bilateral relations will further strengthen.
He pointed to some of the remaining issues between the two countries which he said are due to be followed up in joint meetings in Bulgaria in the next three months in order to reach positive results in the overall expansion of relations.
Annual volume of trade between Iran and Bulgaria stands at $150 million which the two sides agreed to increase several folds in future.

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