Business

Lifestyle

Politics

Society

Sports

Home » Business

Bulgaria about to miss a weapon barter for a billion dollars

Submitted on Wednesday, 11 March 2009No Comment

The newspaper Monitor reveals that Bulgaria is about to miss a deal for the exchange of “weapons for resources” for about a billion dollars due to passive and uneffective national administration.

During the expo of military defense products IDEX 2009 in Abu Dhabi which ended recently, a country from the Middle east expressed interest in the products of Bulgarian military companies and proposed a barter.

“They gave us a resource list: rubber, coal, sugar-cane, etc., which they were willing to exchange for our products. We’re talking about a deal that could go up to 20-30 million dollars”, said the professor Stefan Vodenicharov, chairman of the union “Bulgarian military defense industry”.

According to Petar Milkov, also chairman in the union, the Middle east country was not among the current main trade partners of Bulgaria and a future long term co-operation could have lead to profits of a billion dollars. Ineffective administration, however, is in the way of the deal and it’s incompetence could cost a lot to Bulgaria.