Bulgaria and Sweden would co-operate in the fields of trade and energy, according to the memorandum for economic assistance between the two countries.

Energy cooperation aims to boost efficiency and to develop the regional energy networks, resources and infrastructure, a Council of Ministers press release said. This would be achieved through the use of new equipment and environment protection technology.

Bulgaria would also try to increase its usage of bio-fuels and renewable energy resources, the press release said.

Companies participating in the projects would be responsible for the re-novation of existing and the construction of new energy facilities.

A Bulgarian-Swedish workgroup would act as an executive body and would monitor the execution of the agreement.

The two countries would exchange energy know-how and ideas concerning the upcoming liberalisation of Bulgaria’s energy market. Sweden will present the experience of its main energy operator Svenska Kraftnat and the energy regulatory body Swedish Energy Agency.