Business | March 27, 2002, Wednesday // 00:00| Views: | Comments: 0

Bulgaria’s arms exports in the second half of last year amounted to USD 200 M, double the amount for the full 200, Vladimir Velichkov, head of the state commission on arms exports said at the Roundtable on Bulgaria’s arms industry. The rise is attributed to improved relations with Russia and the renewal of production licenses of local arms producers, Economy Minister Nikolay Vassilev said. India, the Czech Republic, United States, Great Britain and some countries in Asia and South America were the biggest buyers of Bulgarian arms. A total of 24 enterprises in the sector have been privatized so far, Economy Ministry data show. According to Minister Vassilev the state’s strict control has prevented international scandals involving Bulgarian arms sales to rogue states. Fines of up to BGN 1 M will be imposed for illegal trade in arms under legislative amendments approved by the Cabinet earlier this year.

We need your support so can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Advertisement All Are Welcome! Join Now!
Bulgaria news (Sofia News Agency - is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." (Sofia News Agency - and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria