,,Bilateral trade relations between Bulgaria and Saudi Arabia are developing dynamically and ascendantly. There is a constant interest in work and cooperation in different areas between businesses on both sides.'' This was stated by the Minister of Economy Emil Karanikolov in a greeting to the participants in a Bulgarian-Saudi business forum, which was held in Riyadh, reported Econ.bg

More than 80 Bulgarian and Saudi companies from the agriculture, food, pharmaceutical and machine building industries, information technology and tourism took part in the forum.

Minister Karanikolov pointed out that three important documents were signed in 2016 and 2017: the Memorandum of Understanding on Cooperation in the Field of Tourism, the Double Taxation Agreement, the Agreement on Mutual Cooperation in the Field of Agriculture, Livestock and Fisheries.

"We are currently working on agreeing an Agreement to Promote and Protect Investments. We also expect to create a Joint Intergovernmental Bulgarian-Saudi Economic Co-operation Commission by signing a Statute for its work'',Karanikolov said.

He added that, with the adoption of new bilateral agreements, he is confidently moving forward towards creating and deepening new partner long-term mutually beneficial relations.

"In 2018 there is an increase in Bulgarian exports to Saudi Arabia compared to the previous year, exceeding USD 40 million. I am convinced that our two countries are able to enter a new stage of mutually beneficial trade and economic relations'',Karanikolov said.

In his words, this forum provides an excellent opportunity to discuss and present the advantages and qualities of products, production technologies and know-how used in both countries.