Bulgaria, Slovakia Ink Economic Agreement

Bulgaria and Slovakia signed an economic cooperation agreement in Sofia Friday.

The document deals with the bilateral ties in trade, investments, energy, IT, telecommunications, small and medium-sized enterprises, consumer protection, agriculture, and food industry.

The economic cooperation agreement concluded the first ever session of the Bulgarian-Slovak Consultative Commission for Economic Cooperation, which lasted two days.

The document was signed by the Bulgarian Deputy Economy Minister Ivo Marinov and the State Secretary of the Slovak Construction Ministry Martin Hren.

In 2009, Slovak investments in Bulgaria amounted to EUR 13 M; in the first half of 2010, they were EUR 1.1 M.

The Bulgarian Economy Ministry has pointed out the importance of the investment by Slovak company Blood Bags Genetic Ltd (BBG Ltd) for the production of blood products, which is building a factory in the northern city of Lovech, and is also planning to increase its investment with the construction of a second hi-tech biotechnology plant in Bulgaria.

Bulgaria's import from Slovakia consists mostly of consumer goods not produced in the country – such as Samsung and Sony LCD TV sets, cars, technical equipment, office paper.

Bulgaria exports to Slovakia refined copper and copper alloys, electricity cables, optic fiber cables, certain grain and flower products.

Bulgaria was visited by 71 927 Slovak tourists in 2009 making Slovakia the 19th largest foreign tourists source for that year, and by 12 469 Slovak tourists in the first half of 2010.