Bulgarian Prime Minister Boyko Borisov has negotiated a deal for the supply of 500 MT-LB armored vehicles to Iraq.

The deal was sealed Thursday within the Hemus 2012 International Military Equipment Exhibition in the presence of Iraq's Acting Minister of Defense Sadun al-Dulaymi, according to reports of the Bulgarian Telegraph Agency (BTA).

After opening the exhibition, Borisov specified that the MT-LBs had a price tag of EUR 300 000 each and expressed his satisfaction over the deal.

He said that the MT-LB armored vehicles had been produced in Terem's plants in Targovishte and one MT-LB would shortly be sent to Iraq for tests.

Borisov went on to say that a deal worth EUR 36 M for the supply of specialized equipment by Kintex Bulgaria to Algeria would soon be closed.

"We expect another sale worth BGN 55 to be negotiated by the end of the day," Bulgaria's Prime Minister added.

He further offered Liu Sheng, Deputy Director of the General Armaments Department of the Chinese People s Liberation Army, to buy short-range ammunition.

Borisov joked that purchasing one bullet for each Chinese soldier would suffice.

Bulgaria's Prime Minister urged all participating countries to buy Bulgarian weapons, stressing that no complaints had ever been received about their quality.

He went on to congratulate Defence Minister Anyu Angelov for the excellent organization of the event.