Sofia, 18 October, 1968
The Government of India and the Government of People’s Republic of Bulgaria,
ANIMATED by the desire to develop economic and trade relations between the two countries on a mutually advantageous and balanced basis
and to increase the volume of trade between them to as high a level as possible,
HAVE agreed upon the following :
(1) Both Governments will in every possible way develop and strengthen the economic and trade relations between the two countries
on the principles of equality and mutual benefit. They will study and with the utmost goodwill take decisions on the suggestions
which either of them would like to present for the consideration of the other with the purpose of achieving closer economic relations.
(2) During the period of validity of this Agreement, the total value of imports will be equal to the total value of exports effected
by either country, however, for this purpose payments of a non-commercial nature will be also included. Further, for this purpose,
and for periodic reviews, imports and exports, whether on deferred payment terms or on cash basis relating to the contracts concluded
or to contracts to be concluded on the basis of this and either Indo-Bulgarian Trade and payments Agreements as well as payments
of a non-commercial nature will be taken into account as and when payments are made.
The two Governments will accord upon importation nd exportation of goods from one country to the other maximum facilities allowed
by their respective laws, rules and regulations. In any case the said goods shall enjoy full most-favoured nation treatment with
respect to customs duties and charges of any kind imposed on imports or exports or in connection therewith, with respect to the methods
of levying such duties and charges, with respect to rules, formalities and charges in connection with customs clearing operations
and charges of any kind imposed on or in connection with the imported goods.
The two Governments will accord to each other in respect of the insurance of import and export licences treatment no less favourable
than that granted to any other country.
Any advantage, favour, privilege or immunity granted by either of the Governments to import or export of any product originating in
the territory of a third country or destined for its territory, shall be accorded immediately and conditionally to the like product
originating in the territory of either of the Governments of destined to be imported into its territory.
The provisions of Articles 2 and 3 shall not, however, apply to the grant or continuance of any :
(a) Privileges which are or will be granted by either of the Governments to contiguous countries in order to facilitate frontier
(b) Preferences, advantages, privileges or immunities accorded by either country to any third country and which are in force at the
time of the Agreement or in replacement thereof.
(c) Any advantages or preferences accorded under any scheme for expansion of trade and economic cooperation among developing countries,
which is open for participation by all developing countries and to which either of the Governments is or may become a party.
The export of goods from Bulgaria to India and from India to Bulgaria during the period of validity of the present Agreement will
be carried out in accordance with the export and import lists agreed upon between the two Governments for every calendar year.
Schedules “A” and “B” attached to this Agreement are indicative lists of goods available for export from either country. These Schedules
can be extended, altered or renewed by letters exchanged between the two Governments.
1. The import and export of the goods stipulated in Article 5 will be carried out in accordance with the export, import and foreign
exchange regulations in force in either country and on the basis of contracts to be concluded between the Bulgarian enterprises on
the one side and the Indian physical and juridical persons, including Indian state-owned organisations.
1. All payments of a commercial and non-commercial nature between physical and juridical persons residing in Bulgaria and physical
and juridical persons residing in India will be effected in non-convertible Indian Rupees.
2. For the purpose of effecting the aforementioned payments :
(a) The Bulgarian Foreign Trade Bank will continue to maintain a Central Account with the Reserve Bank of India and one or more accounts
with one or more commercial bank(s) in India, authorised to deal in foreign exchange;
(b) The Central Account maintained by the Bulgarian Foreign Trade Bank with the Reserve Bank of India, will be used for depositing
the rupee holdings of the Bulgarian Foreign Trade Bank and for replenishing the accounts of the Bulgarian Foreign Trade Bank with
the authorised Indian Commercial Banks and for operating the Technical credit;
(c) The accounts maintained by the Bulgarian Foreign Trade Bank with the Indian Commercial Banks will be used for carrying out all
other operations connected with the payments of a commercial and non-commercial nature mentioned above;
(d) The Central Account will be replenished by transfer of funds in Indian rupees from the accounts maintained by the Bulgarian Foreign
Trade Bank with the Indian Commercial Banks and by receipts under the technical credit.
(e) The accounts with the commercial banks will be replenished by transfers of funds from other similar accounts and from the Central
(3) The payments permitted in accordance with the Indian Foreign Exchange Control, Laws and Regulations will be effected on the basis
of this Agreement to the physical and juridical persons residing in the Peoples’ Republic of Bulgaria by the physical and juridical
persons residing in India, by crediting the amount of such payments to the accounts of the Bulgarian Foreign Trade Banks with the
Indian Commercial Banks.
Likewise the payments which are to be effected by the physical and juridical persons residing in the People’s Republic of Bulgaria
to the physical and juridical persons residing in India in accordance with the Bulgarian Foreign Exchange Control Laws and Regulations,
will be effected by debiting the accounts maintained by the Bulgarian Foreign Trade Bank with the Indian Commercial Banks, under
the instructions of the Bulgarian Foreign Trade Bank.
4. The details in regard to the procedure for the operations of the Central Account will be mutually agreed upon between the Bulgarian
Foreign Trade Bank and the Reserve Bank of India at the earliest practicable date.
5. Any balances in the Rupee Accounts of the Bulgarian Foreign Trade Bank of any debt of the Bulgarian Foreign Trade Bank in connection
with the grant of technical credit will, upon expiry of this Agreement, be used during the ensuing 12 months for the purpose of such
Indian or Bulgarian goods as the case may be as were eligible for exchange during the previous year.
Payments arising from the contracts concluded before the expiry of this Agreement but falling due after the expiry of this Agreement
shall, notwithstanding the expiry of this Agreement, be effected in accordance with the provisions of this Article and be utilised
in the same manner as the balances referred to in the preceding sub-paragraphs, during the ensuring 12 months after each such payment.
In both cases, after the expiry of the said twelve-month period, any balances outstanding will be settled in such a way as may be
agreed upon between the two Governments.
1. The two Governments agree that, in exercise of their rights of shippers’ preference they shall, to the maximum extent possible,
utilize the vessels owned or chartered by shipping organisations of the two countries concerned for shipping cargoes imported or
exported under this Agreement, on the basis of world competitive freight rates and conditions.
2. The most-favoured nation treatment will apply also to the ships of both countries in respect of port taxes to be levied, in respect
of the privileges rendered at entering or leaving the ports, as well as to the regulations in force regarding the stay of ships,
the crew, the goods, passengers at the ports, and in respect of loading, unloading and trans-shipment of the goods. The principle
shall not, however, apply to ships engaged in coastal navigations.
In order to facilitate the implementation of this Agreement, the two Governments agree to consult each other at the request of either
Party in respect of matters connected with trade and paymetns between the two countries.
For this purpose, the representatives of the two Governments will at the request of either Party, at a place and time to be mutually
agreed upon, the meeting being held within 45 days of the receipt of the request.
This Agreement will come into force from January 1st, 1969 and shall remain valid until December 31, 1973.
DONE at Sofia on October 18, 1968 in two original copies of the English language, both texts being equally authentic.
On behalf of the
On behalf of the
Government of India
Government of the People’s
Republic of Bulgaria
MOHD. SAFI QURESHI
GOODS AVAILABLE FOR EXPORT FROM BULGARIA TO INDIA
FOR THE PERIOD 1969-1973
1. Metal working machines and machine tools, junction and spare parts
2. Forging and aggregate machines
3. Building and ceramic machines
4. Bridge tower cranes and crane apparatus
5. Electrical trucks, motor trucks, components and junctions
6. Mopeds and components
7. Special electric hoists, junctions and components for food processing industry
8. Internal combustion engines, components and ancillaries thereof
9. Tractors and earth cultivating machines such as bulldozers loaders, etc
10. Agricultural machines
11. Water pumps, irrigation and sprinkling installations and machines
12. Tonga baling machines and tobacco fermentation lines
13. Machines and equipment for the chemical industry
14. Hydraulic and other generation sets, etc
15. Special power and measuring transformers
16. Explosion proof apparatuses
17. Special HT apparatuses
18. Electric porcelain
19. Electric insulation materials
20. Electric computers
21. Signal electronic and laboratory apparatus
22. Components for TV sets
23. Transistor radio and radio receivers
24. Tape recorders
25. Radio telephones
26. Medical electric apparatus
28. Dentist’s equipment
29. Operating and gynecological tables
30. Ball, roller and conical bearing
31. Power cables and Insulated conductors
32. Steel, Steel plates, rounds, forgings, bars and other categories
35. Urea-fertilizer’s grade
36. Amonium nitrade
37. Sodium nitrate
38. Potassium hydroxide
39. Ammonium bicarbonate
40. Light Magnesium carbonate
43. Amonium chloride
46. Gas sulphur
48. Caprolactum, monomer and Polymer chips
50. Peppermint oil
51. Menthol in crystals
54. Sodium benzoate
58. Lavender oil etc
59. Drugs and other products
60. Tooth paste
61. Cosmetics and perfumery
62. Anilin dyes and varnishes
63. Syes intermediates
64. Photographic sensitised paper
65. Cinematographic and scientific films
66. Films exposed
67. Books, pictures, postcards, slides, etc
68. White cheese kashkaval (yellow cheese), casein etc
74. Salt of lemon
75. Liquid glucose
77. Decorations, handicrafts, ceramics, wroughtcopper, bronze and iron.
LIST OF COMMODITIES AVAILABLE FOR EXPORT FORM INDIA TO BULGARIA
FOR THE PERIOD 1969-1973
1. Fruits, fresh dried, processed and preserved and fruit juice and squashes
2. Cashew kernels, cashew nut shell liquid
4. Other spices
5. Oil cakes (de-oiled) all sorts including de-oiled rice bran
6. Tinned fish and prawns and other marine products
7. Groundnuts H.P.S.
8. Sheep and Animal casings
9. Fish meal
10. Sesame seeds (edible)
11. Vegetable oils, linseed oil, groundnut oil
II. Beverages and Tobacco
3. Tobacco (unmanufactured)
4. Opium raw.
III. Crude materials
1. Shellac and shellac based products
2. Hides and skins, semi-processed and tanned, including raw skins
3. Coir and fibres, yarn and manufactures
4. Palmyra fibre
5. Coir and sisal ropes for ships
6. Tanning agents like myrobolan extract
7. Guar Gum
8. Cotton waste
9. Cotton linters (bleached and unbleached)
10. Raw jute
11. Cotton Bengal Deshi
IV. Mineral and Allied Materials
1. Mica and Micanite and other Mica products
2. Iron ore
3. Dead burt maganesite
4. Ferro manganese
5. Kyanite, sillimanite, steatile, ilemenite, bauxite, calcinite.
V. Engineering Products including Rolled Steel items
1. Ferrous manufactures
(a) Grey iron, maleable iron, spherodical iron and mehanite iron casings
(b) Cast iron pipes and specials
(c) Carbon and alloy steel castings
(d) Carbon and alloy steel forgings
(e) Steel pipes and tubes for fittings thereof
(f) bright steel bars and shaftings
(g) Fabricated steel structurals including transmission towers and hydraulic structurals
like gates, gearing and penstock
(h) Railway track fasteners, fittings and accessories
(i) Wire rope and strand
(j) Stranded wire and barbed wire
(k) Steel fasteners, all types, including wood screws machines screws, bolts, nuts and
rivets, split pins, cotter pins, wire nails, panel pins, slive tacks and the like.
(l) Builder hardware
(m) Mild steel arc welding electrodes
(n) Ferrous manufactures
2. Aluminium ingots, semis, extrusions and fabrications including AAC, ACSR and
insulated cables with aluminium conductors
3. Machine tools and metal working equipment
4. Small cutting and hand tools (Carbide tipped tools) Forge form, Twist drills
5. Internal combustion engines including diesels engines, pumps and compressors and
parts and components thereof
6. Industrial machinery for themanufacture of sugar, paper, dairy, textile, artsilk,
cement and chemicals and parts, components, accessories and ancillaries thereof.
7. Selven extraction Plant
8. Chemical and Pharmaceutical machinery
9. Other industrial machinery viz. weighing machines, Platformer scale, weight bridge,
porsonal weigher, spring balance, circular weighing balance, counter weighing machine,
10. Sewage and water treatment plants
11. Dies, jigs and Fixtures
12. Cranes, hoists and lifts
13. Mining and benefication plants for minerals
14. Construction machinery (including stone crusher, concrete mixture, convrete vibrator,
Asphalt mixture, pre-stressed equipment)
15. Foundry moulding and other foundry machines
16. Plastic processing machinery
17. Motor vehicles (including tippers, trucks, etc) and vehicular components, parts and
ancillaries thereof, industrial shunters, etc
18. Mopeds, motor cycles, scooters and three wheelers
19. Bicycles and bicycle components
20. Other Industrial roller chains
21. Railway wagons and coaches
22. Train lighting and railway signalling equipment
23. Data Processing machines and copying machine
24. Sewing machines and components
25. Knitting machines and components
27. Dry and storage batteries
28. Electrical wiring accessories and ;;;;;;;lighting fittings
29. Electrical generators, transformers, motors, circuit breakers, switch gears and control
gears, audio lubricated taper plug valves, etc.
30. Balla nd roller bearings and steel balls
31. Electrical lamps, incandescent and flourescent
32. Electrical measuring and industrial process (flow instruments and other Electrical and
33. Electrical appliances
34. Water meters
35. Radio receivers and delectronic components
36. Telecommunication equipments
37. Refrigeration,air conditioning, ventilation and humidification equipment
38. Drinking water coolers - 10 gallons to 150 gallons capacity
39. Electric fans and components
40. Razor blades and safety Razors
41. Zip Fasteners
42. Kerbside petrol metering and dispensing pumps
43. Insecticides sprayers
44. Diamond drills and bits
45. Oil Mill machinery like Oil Expellers, Oil filters and oil Press
46. Crown corks, aluminium, capsules and roll-on pilfer process caps.
47. Iron and Steel materials viz.
(a) pig iron
(d) Structurals (light and heavy)
(f) Cold Steel bars and rods (including cold twisted and deformed bars)
(g) Hot rolled sheets (10 to 14 G0
(h) Chequered plats
(i) M S Wire (20 G and thicker)
(j) M S wire rods
(k) G I Wire (16 G and thicker)
48. Expanded metals
49. Engineering manufacturers n.o.s.
VI. Other manufactured Goods
50. Cotton textiles (Rayon Textiles) including rayon dipped fabrics) and silk fabrics
51. Other textile products
52. Jute goods including jute convas and jute tarpauline
53. Woolen textiles and knitted wears
54. Ciggars and cigarettes
55. Tooth brushes
56. Ready-made garments and hosiery products
57. Linoleum and other synthetic leather materials including P V C leather cloth
58. Finished Leather footwear (including chappals) and other leather manufactures
59. Sports goods
60. Spectacle frames
61. Surgical instruments and hospital appliances
62. Wire melting, wire gauge and wire mesh
63. Scientific instruments for laboratories and educational institutions
64. Stationery articles
65. Steel tubalar Furniture
66. Thermos flasks
67. Surface coated and bonded abrassives and grinding wheels
68. Animal hairs including Bristles
69. Collapsible tubes
70. Domestic utensils of Aluminium, Copper, Brass and Stainless Steel
71. G.I. Buckets
72. Fountain pens
73. Wrist watches
VII. Other goods
1. Chemicals and allied products
2. Essential oils
3. Drugs and pharmaceuticals
4. Dye and Dye intermediates
5. Cosmetics, paints and varnishes, glass and glassware, paper and paper products, rubber
products, plastic goods, crushed bones, medical herbs, Rayon tyre cord and rayon tyre
yarn, Copper concentrates, handicrafts, artware and handloom products.