Sunday, January 15, 2012

Israel, Bulgaria Sign Arms Industry Deal

SOFIA, Bulgaria - Bulgaria and Israel signed military accords for joint army trainings and defense industry cooperation Jan. 15, according to Bulgaria's defense ministry.
The deals were signed during a two-day visit by Bulgarian Defence Minister Anyu Angelov, who arrived in Tel Aviv on Jan. 15 for talks with his Israeli counterpart Ehud Barak.
The training accord "aimed to broaden defense cooperation between the two countries through conducting joined training exercises," his ministry said in a statement.
Angelov and Barak also oversaw the signing of a memorandum of understanding for cooperation in the defense industry, including the production and trade of defense produce and joint research and development work.
The defense industry is an important employer in Bulgaria. According to a recent media report, in 2011 Bulgaria exported $380 million (300 million euros) worth of arms, although the sector has shrunk to a 10th of its Soviet-era size.

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