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Bulgaria PM due in Iran to boost trade ties, sign investment deal

Bulgarian Prime Minister Boyko Borisov

Bulgarian Prime Minister Boyko Borisov will pay an official visit to Tehran to sign an investment agreement and hold talks with senior Iranian officials on ways to improve trade and economic relations.

Heading a delegation, Borisov will arrive in Tehran on July 11 for a two-day visit. The Bulgarian premier is set to sit down with Iranian President Hassan Rouhani and First Vice President Es’haq Jahangiri.

Bulgarian Economy Minister Bozhidar Lukarski had earlier said that Tehran and Sofia will sign an agreement to increase cooperation among small and medium enterprises and another on investment.

He added that a memorandum of understanding is also in preparation for establishing a partnership between Bulgaria's National Company Industrial Zones and Iran Small Industries and Industrial Parks Organization. Bulgaria's cabinet approved the draft of the MoU in June.

The Bulgarian prime minister’s trip comes as part of a series of visits by world leaders to Tehran after the implementation of a nuclear agreement, dubbed the Joint Comprehensive Plan of Action (JCPOA), which was reached between Iran and the P5+1 group of countries in July 2015.

Iran and the five permanent members of the UN Security Council – the United States, France, Britain, China and Russia – plus Germany started to implement the JCPOA on January 16.

After the JCPOA went into effect, all nuclear-related sanctions imposed on Iran by the European Union, the Security Council and the US were lifted. Iran, in return, has put some limitations on its nuclear activities.

Bulgaria can serve as a gateway for the Iranian products to European, the Commonwealth and Asian countries.

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