"Bulgaria has proposed to Russia that the intergovernmental commission convene in Sofia in early December for a comprehensive discussion of bilateral relations. A positive answer is expected," Prime Minister Saxe-Coburg said in the Bulgarian Parliament on October 26. The commission has not practically been operating for the last three years. “The meeting will make a comprehensive review of the bilateral relations. The Government wishes to maintain an active dialogue with Russia on all issues of mutual interest,” the Prime Minister added. He pointed out that a balanced bilateral trade between the two countries is impossible because of the huge imports of energy resources compared to exports. Within the framework of Russia’s accession to the World Trade Organization, the Bulgarian government’s top priorities are to encourage business contacts and Russian investments, resolve the tax issue, create legal foundation for trade and cigarette-producing joint ventures, sign an agreement on two-way travel, attract more Russian tourists. Russian investment in the Bulgarian economy totals USD 200 M, half of it utilized at the LUKoil Neftochim refinery and the rest mostly in the financial and trade sectors, he said. The Prime Minister described Russian investments in the Bulgarian-based manufacturing businesses as "insufficient."

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