Bulgaria will withdraw from the Anti-Counterfeiting Trade Agreement (ACTA), the country's Economy, Energy and Tourism Minister Traicho Traikov told the media on Tuesday.

Bulgaria signed the agreement on January 26 subject to ratification by the national parliament. The withdrawal will be proposed to the Council of Ministers on Wednesday.

"Bulgaria will stop all procedures of ratification for the agreement," Traikov said. His statement comes after hundreds of Bulgarians staged demonstrations against ACTA in 15 cities on Saturday. According to the Citizens' Initiative Against ACTA, the agreement restricts ordinary users' fundamental human rights like freedom of speech and freedom to share information.

ACTA does not protect copyright but commercial rights, the protesters claimed.