Bulgaria's state-owned LB Bulgaricum company and Japan's Meiji Holdings Co. will set up an R&D centre which will develop new dairy and other products containing Lactobacillus bulgaricus. The two companies Thursday signed a Letter of Intent and the commitment was affirmed by Economy and Industry Minister Nikola Stoyanov and Japanese Ambassador Hiroshi Narahira, the Economy Ministry said.
The initiative is linked to the 50th anniversary of the introduction of Bulgarian yogurt to Japan.
The partnership between LB Bulgaricum and Meiji through the years has become one of the symbols of Bulgaria-Japan relations, Stoyanov said. It is very important to plan joint initiatives to build on what has been achieved so far and to develop innovative products which keep interest in the unique Bulgarian bacterium alive. "We are marking half a century of successful partnership; now is the time to lay the foundations for even more results in the next 50 years," he said.
The Japanese company is making consistent efforts to increase its presence on the Chinese market and Bulgarian yogurt is already available there.
Stoyanov talked about plans for the Bulgarian company's development and the interest shown by other countries in acquiring a licence. Bulgaria's talks with countries in the Middle East are at an advanced stage and hopefully, there will be more positive examples of promoting Bulgaria through its yogurt, the Economy Minister said.
The retail prices of LB Bulgaricum products in Bulgaria were also discussed. "With the right actions, we have managed to make the products which are known for their quality even in the Far East available at some of the lowest prices in Bulgaria," said Stoyanov. The state-owned company aims to guarantee the products' authentic taste and quality at the best possible prices.
The managements of the State Consolidation Company, LB Bulgaricum and Meiji Holdings attended the meeting.
/RY/
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