ISLAMABAD: Bulgaria’s Ambassador to Pakistan, Irena Gancheva, has said that Pakistan and Bulgaria need to explore opportunities for collaboration as the potential between both nations is not being utilized.
Bulgaria offers collaboration and business opportunities in different areas, such as agriculture, IT, food processing, and new technologies. She was speaking to the business community at the Lahore Chamber of Commerce and Industry on Monday.
The envoy said that the bilateral trade figures between Pakistan and Bulgaria should be improved. New trends are also being observed in trade between both nations, as Bulgaria is exporting wheat and importing mainly textile products from Pakistan, as this is the case for the whole of the European Union (EU).
She also provided in-depth information about Bulgaria, which has been an EU member since 2007. The ambassador said that Bulgaria offers strong traditions and a favorable taxation system for investors, and it provides access to all European Union markets with 1.3 billion customers.
The diplomat said that Bulgaria is very good in automotive, mechanical engineering, electronics, Information Technology, mechatronics, and robotics and also provides very low operational costs. Bulgaria is also very strong in plastic and rubber products as well as in manufacturing.
The envoy said that Bulgaria has the top ten fastest internet mobile with world-class artificial research. She stressed exploring more opportunities to diversify trade and partnerships.
Pakistan, Bulgaria Cordial Relations
LCCI President Kashif Anwar said that Pakistan and Bulgaria enjoy cordial political, diplomatic, and economic ties. Bulgaria has been giving Pakistan continued support for the GSP Plus status, which played a crucial role in enhancing Pakistan’s exports to the EU.
He said that Bulgaria is an important economy. Its strategic location serves as a gateway for Pakistani goods to enter the EU market.
He said that strengthening trade relations with Bulgaria opens up avenues for Pakistani exporters to expand their reach into the EU market.
H.E. Irena Gancheva, Ambassador of Bulgaria visited LCCI and held a meeting with Mr. Kashif Anwar, President LCCI.
Mr. Zafar Mehmood Ch, Senior Vice President also spoke on the occasion while EC Members, Raja Hassan Akhtar, Mian Attiq ur Rehman, were also present. pic.twitter.com/4epao1SaSK— The Lahore Chamber of Commerce & Industry Official (@LahoreChamber) February 26, 2024
