Bulgaria's cabinet has approved a draft Memorandum of Understanding that provides for cooperation between the respective agencies overseeing small and medium businesses.

Under the draft document, the Iran Small Industries and Industrial Parks Organization and the Bulgarian Small and Medium Enterprises Promotion Agency will work to provide SMEs from one of the countries to establish and maintain cooperation with businesses operating in the other.

Information is to be exchanged on legislation related to trade and other economic activity, effort is to be made to set up joint ventures and realize investment projects, along with a possible exchange of experience and experts.