The volume of trade increased over the past few years till it reached about 200 million USD in 2009, taking into consideration that the last meeting of the joint committee put forward the Goal of reaching 500 million USD for the volume of trade.

There is also a big hope in fostering cooperation in fields of: fisheries, pharmaceuticals, fertilizers and petroleum.

Contractual Framework

There are a lot of bilateral agreements signed between both sides covering various areas of bilateral cooperation, in fields of trade and investment, tourism, agriculture, and culture, taking into consideration that the last agreement signed by both sides was the agreement on Abolition of Visa Requirement for Diplomatic, Official, Service and Special Passports on 18/8/2010.