Bulgaria Invites Indian Companies To Expand Bilateral Cooperation
News: Bulgaria, a member of the EU, has invited Indian companies to invest in the country's pharmaceutical sector to expand bilateral trade and economic cooperation, Press Trust of India has reported, citing Bulgarian Economy Energy and Tourism Minister Delian Dobrev. Indian companies were encouraged by Dobrev to leverage on Bulgarian investor-friendly business environment that offers micro-economic stability, low tax rates for investors and fiscal incentives. India-based Suzlon Wind Energy, Elder Pharmaceuticals and Namdhari Seeds already have their operations in Bulgaria, which has invited investment in various other sectors including tourism, agriculture, pharmaceuticals and food processing. Trade between the two countries stood at US$206mn in 2011-12, with Bulgaria importing chemical products, cotton yarn, white sugar and wool in exchange for electric motors, aluminium waste and scrap, mineral and chemical fertilisers.