By IANS
New Delhi : Bulgaria, a member of the Nuclear Suppliers Group, Wednesday backed India’s efforts for civil nuclear cooperation as the two countries signed seven pacts aimed at accelerating trade and investment between the two growing economies.
“Bulgaria welcomes India’s engagement in the areas of peaceful use of nuclear energy and is ready to support efforts for civil nuclear cooperation with India,” a joint statement said after talks between Prime Minister Manmohan Singh and his Bulgarian counterpart Sergei Stanishev.
“The two leaders shared the view that civil nuclear energy can play an important role as a safe, sustainable and non-polluting source of energy in meeting rising global demands for energy,” the statement added.
The two sides also signed a treaty on mutual legal assistance in criminal matters that covers within its ambit terrorist attacks.
They signed six pacts on promoting economic cooperation and agreed to amend a treaty for the promotion and protection of investment, labour relations and a memorandum of understanding for more cooperation between small and medium industries of the two countries.
The focus of Stanishev’s week-long visit that began Monday night is to upgrade bilateral trade and investment between the two countries.
“Both prime ministers expressed their will to expand and diversify trade and economic cooperation in areas in which Bulgaria and India have comparative advantages, and to utilise the untapped potential in this area and the existing institutional framework,” said the statement.
“We are back. You are welcome,” Stanishev told leading businessmen of both countries at a meeting organised by the apex chambers of commerce and industry in the afternoon.
“The potential of trade and investment is much bigger. More information and confidence in each other holds the key,” Stanishev said, alluding to the rather disappointing bilateral trade of $75 million between the two countries.
Stanishev, who is the first Bulgarian prime minister to visit India in nearly three decades, underlined sweeping transformation in both countries as he presented his country as a gateway to the vast European market of nearly 600 million consumers.
“Bulgaria has become an open society and a flexible economy. India is not what it used to be. India is one of the growing economic powers in the world,” said Stanishev, who is accompanied by top businessmen of his country on his India visit.
Bulgaria is keen to import Indian auto components, information technology services and software and wants to set up joint ventures in India in the areas of food processing and construction of grain and cold storages. It is also eyeing the growing Indian market for its wines.
Bulgaria joined the European Union early this year. Its economy is growing at the rate of over 6 percent in the past few years.
India and Bulgaria have common perspectives on key global issues like the UN reforms.