The Russian money inflow will put the Burgas company on a technological par with Europe's best to offer European-standard fuel, said Mr. Alekperov.
It is hard for the Bulgarian business community to penetrate the Russian market. For an extensive presence, Bulgarians ought to shift attention from Moscow and St. Petersburg to Russian provinces for direct contacts with prospective Russian partners, advised the petroleum tycoon. Bilateral ties depend the greatest on small and medium-scale business, added Vaghit Alekperov, who hopes for the two governments to promote links.
Russian statisticians roughly evaluate the year's Bulgarian exports to Russia at $150 million, said Nikolai Vasilyev, Bulgaria's Deputy Prime Minister. The year's overseas capital investment in his country makes $1.5 billion, he added.
Russia is by far not the biggest investor, said the Vice-Premier.