The 16th Session of the India-Bulgaria Joint Commission for Economic, Scientific and Technical Cooperation was held in Sofia on April 8-9, 2010. A protocol identifying areas of cooperation was signed on 9th April, 2010, by Shri Jyotiraditya Scindia, Union Minister of State for Commerce & Industry from the Indian side and Mr. Traycho Traykov, Minister of Economy, Energy and Tourism of the Republic of Bulgaria from the Bulgarian side. Speaking on the occasion, Shri Jyotiraditya Scindia said that the Joint Commission was a significant step to raise the level of Economic and Trade Cooperation between the two countries. He said that the complementarities in our economies and human resources could be synergized for greater mutual benefit. The rapid growth of the Indian economy even during the global downturn and the increased potential of Bulgaria as a member of the European Union hold great opportunities for the further expansion of the trade and economic partnerships between the two countries, he said.

The Joint Commission discussed cooperation to enhance bilateral trade and investments, food, textiles, leather, pharmaceuticals, science and technology, SMEs, energy especially NRE, engineering goods and tourism, agriculture and Information Technology. Shri Scindia said that the next big opportunity for growth lies in the rural hinterland of India. He said the Indian government was making all out efforts to improve infrastructure and enhance economic viability of farming especially for small and marginal farmers. He invited the Bulgarian expertise in farming and post harvest processing to increase value additions in the food sector. In the Information Technology sector, Shri Scindia affirmed India's competence in e-governance, software technology parks, and ICT led education and learning and identified it as a sector for greater cooperation with Bulgaria. Both sides agreed to pursue specific tangible opportunities beneficial to both countries with defined timelines.

During his two day visit, Shri Scindia also held bilateral talks with Mr. Miroslav Naydenov, Minister of Agriculture & Food and Mr. Aleksandar Tsvetkov, Minister of Transport, Information Technology & Communications.

 

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RJ/MRS 

Bilateral economic cooperation framework charts sectoral collaboration and timelines to boost trade, investment, agriculture and IT partnerships. Protocol establishes a bilateral cooperation framework identifying prioritized sectors for economic, scientific and technical collaboration and records a mutual commitment to enhance trade and investment by pursuing defined opportunities with timelines. Key sectors listed include agriculture and post-harvest processing, food, textiles, leather, pharmaceuticals, science and technology, SMEs, energy with emphasis on new and renewable energy, engineering goods, tourism and information technology. The protocol invites Bulgarian expertise in farming and post-harvest processing and affirms India's strengths in e-governance, software parks and ICT-led education as bases for IT collaboration.