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. Last Updated: 07/27/2016

Sofia's Premier Visits

MOSCOW -- Trade between Russia and Bulgaria has fallen by more than half in the past three years, and the two countries must work to rebuild commercial ties, Bulgaria's prime minister said Monday.

The two countries have good political relations, but economic problems, and frequent changes in trade rules have contributed to the decline, Prime Minister Ivan Kostov was quoted as saying by Interfax.

Annual trade between the two countries has gone from $2.5 billion to just $1.2 billion in the past three years, said Arkady Volsky, head of the Russian Union of Industrialists and Entrepreneurs.

Prime Minister Sergei Stepashin praised Kostov for the friendly political ties between the two countries.