H.E. Mr. Borislav Kostav, Hon’ble Ambassador Extraordinary and Plenipotentiary of the Republic of Bulgaria said, trade and economic ties have constituted an important component of the cordial relations between Bulgaria and India. The bilateral cooperation between the countries encompasses science and technology, information and communication technology, defense, education, culture, sports, etc. In order to extend this mutually beneficial relationship it is vital to encourage bilateral contacts and meetings, participation in trade fairs, exhibits, etc Mr. Kostav said.Earlier, in his welcome remarks Mr. Vijay Kalantri, Vice Chairman, MVIRDC World Trade Center Mumbai and President, All India Association of Industries said that the bilateral trade between two countries stands at mere US $140.2 million, which includes Indian exports worth US $ 96.40 million and Indian imports of US $ 43.80 million. Indian exports to Bulgaria comprise of organic chemicals, articles of plastics, aluminum, medicaments, ferro-alloys, tobacco; cotton yarn, cotton fabrics, etc. Major Bulgarian exports to India include electronic laboratory instruments, animal feeding preparations, aluminum waste & scrap, copper waste & scrap, ferrous waste & scrap, kraft paper, engines & motors, copper articles, electrical equipment, cosmetics, etc. However, there exists potential for expansion of bilateral trade, investment and economic cooperation, Mr. Kalantri added. After the meeting, over 100 business matching meetings were hosted which witnessed participation from the sectors of electrical and electrical engineering, energy, infrastructure, chemicals, pharmaceuticals, IT, agriculture, automotives, BPO, food processing, telecom, railways, airports, solar systems, defense among others.