New Delhi, Sept 12: Visiting Bulgarian Prime Minister Sergei Stanishev has expressed the hope of energizing trade ties with India.
"I must say as Prime Minister, I am not satisfied with the volume of our turnover which is less than 100 million dollars per year, which is quite lower than what it used to be in 1980's. But perhaps it reflects the changes in our economies, trade partners and some other things but definitely is below the potential of the two countries," Stanishev said during a lecture here on Tuesday.
At present, India's bilateral trade with Bulgaria stands at 79 million dollars, with exports amounting to 40 million dollars and imports to 39 million dollars.
India exports machinery, pharmaceuticals, chemicals and non-ferrous metals to Bulgaria while inorganic chemicals, wheat, iron and steel machinery figures among India's imports.
Stanishev, who is on a week-long visit to India, will meet President Pratibha Patil and External Affairs Minister Pranab Mukherjee today.
He will also address a business meeting in the afternoon and is scheduled to meet Prime Minister Dr. Manmohan Singh and UPA Chairperson Sonia Gandhi this evening.
Indo-Bulgarian delegation level talks will be followed by a signing of several bilateral agreements.
The visit by a Bulgarian head of Government is taking place after 27 years.
Stanishev is also scheduled to visit Agra, Bangalore and Chennai.