Bulgaria has approved the establishment of a joint venture company between the Bulgarian Ministry of Agriculture and Food and the Saudi Agricultural and Livestock Investment Company. The partners will have equal share in the new joint venture whose capital will amount to EUR 200,000. The company will mediate between the Bulgarian producers and the private Saudi companies during negotiations for future investments, Bulgaria’s Minister of Agriculture and Food Rumen Porozhanov said. The problem is that Saudi Arabia demands huge quantities of meat and fodder and Bulgaria does not have the capacity to fully meet this demand, Minister Porozhanov admitted. Meanwhile, Bulgaria’s first Ambassador to Saudi Arabia Dimitar Abadzhiev arrived in Riyadh and is expected to hand in his letters of accreditation.