The concluding plenary of the 11th intergovernmental Bulgarian-Russian Commission took place on April 24. It was led by Bulgarian Economy Minister Roumen Ovcharov and Russia's deputy prime minister Sergei Naryshkin.

The main subject of discussion between the two was co-operation in the energy sector between Bulgaria and Russia. The three biggest projects – the construction of Belene nuclear power plant, the construction of the Bourgas-Alexandroupolis oil pipeline, and the recently signed contract with Russia for natural gas supply to Bulgaria – were discussed. Naryshkin said that now, much depends on how effective actions by the implementers in both countries will be. He said that very soon agreements for the Bourgas-Alexandroupolis pipeline had to be ratified and that construction would take eight to 10 years.

As a priority project for mutual energy co-operation, Ovcharov mentioned the Belene nuclear power plant and underlined that it was not to be delayed. He announced that the first tender for bridging finance had been completed and the tender for the strategic investor would be announced in a few days.

Naryshkin and Ovcharov concluded that bilateral co-opeartion was progressing, especially in the energy sphere. The increased amount of Bulgarian exports to Russia was noted as a positive fact. However, it was still highly insufficient to compensate for the large trade imbalance that Bulgaria has with Russia because of the large imports of energy resources from Russia. Also on the rise were economic relations with regards to the inflow of Russian tourists as well as Russian investors in Bulgaria, Ovcharov said.

Meanwhile, on April 24, the European Union and Russia signed a protocol to the current Partnership and Co-operation Agreement (PCA) between Moscow and Brussels, to have it include the EU’s newest members, Bulgaria and Romania.

The protocol was signed during a regular session of the EU General Affairs and External Relations Council, which took place in Luxembourg on April 23-24. The document was signed by Russia’s foreign minister Sergey Lavrov, European Commissioner for External Relations Benita Ferrero-Waldner and German foreign minister Frank-Walter Steinmeier, whose country is currently presiding over the EU.

In Luxembourg, Bulgaria was represented by Foreign Minister Ivailo Kalfin.

The aim is for Bulgaria and Romania to become full-right participants in the PCA. Moreover, it seeks to ensure that Russia’s trade and economic relations with EU countries are not harmed by the EU’s enlargement. Lavrov said that the document would regulate the development of future trade and economic relations between Russia and Bulgaria and Romania as now-EU member countries.

In April 2004, Russia and the EU extended the PCA to the 10 countries that joined the EU in May that year.

Russian imports to Bulgaria were worth 3.173 billion euro in 2006, making it the second-biggest imports partner to Bulgaria after the EU. Bulgarian exports to Russia for the same year came to 164.5 million euro, according to Bulgarian National Bank and National Statistical Institute statistics.