Indian government on October 11 approved the amendment to an agreement between India and Bulgaria for the promotion and protection of investments, India's Economic Times daily reported.

"The Union Cabinet today gave its ex-post facto approval for amending the agreement between India and Bulgaria for the promotion and protection of investments signed in New Delhi on September 12 , 2007," the daily quoted Information and broadcasting minister Dasmunsi as saying.

Damunsi said the decision would enable Bulgaria to comply with its obligations as a member state of the European Union.

The investment agreement had been signed during a visit by Bulgarian Prime Minister Sergei Stanishev to India between September 10 and 15 2007.

There was a “serious potential for co-operation between Bulgaria and India,” especially in the fields of information and communication technologies, science and education, Stanishev had been quoted in a Bulgarian Government media office statement as saying during his visit.