Israeli President Moshe Katsav and Bulgarian counterpart Georgi Parvanov said Monday that their countries must do more to boost economic ties and promote two-way investment.
"Bulgaria and Israel have good traditions in cooperating in spheres as agriculture, food industry, tourism ... but there are many other opportunities," Parvanov told a forum of senior businessmen of 15 Israeli and 80 Bulgarian companies.
Katsav said that Bulgaria's future European Union entry - scheduled for January 1 - offered a serious incentive for Israeli investment.
During Katsav's visit, Bulgarian and Israeli government officials signed an agreement for visa-free travel between the two countries. The deal is expected to take force by the autumn.