Bilateral trade volume far below than actual potential: Bulgarian envoy

SIALKOT: Bulgarian Ambassador Aleksandar Borisov Parashkevov has said that Bulgaria and Pakistan have been enjoying friendly ties since 1965.

Addressing the local industrialists and exporters at the Sialkot Chamber of Commerce and Industry here on Saturday, Aleksandaer Borisov said that despite warm ties between the countries, the volume of their bilateral trade was far below than its actual potential. He said that the exchange of delegations of business communities of the countries was needed and the trade and commerce related information between both the countries was vital for the promotion of bilateral trade. He said that close cooperation between the chambers of both countries must be encouraged to enhance bilateral trade. The ambassador said that Pakistan was an important business partner of Bulgaria in south Asia and Bulgaria always had valued its ties with Pakistan.

He termed Bulgaria as gateway to Europe and invited the local businessmen and traders to come forward and explore the vast markets of Europe for their top quality products. The member of Pak-European Business Forum Wasim Khokhar termed Bulgaria as a heaven for the investors and offered the local businessmen to come and invest in a number of spheres in Bulgaria and enjoy highly business-friendly environment with ease of doing business and many other facilities. He added that Bulgaria could be proved a great investment destination for them.

He said that there was zero tax in Bulgaria for those investing in the localities of Bulgaria with high rate of unemployment. He said that Bulgaria was planning to invest in Pakistan in a number of fields besides launching joint ventures in the near future. SCCI president Malik Muhammad Ashraf thanked Bulgaria for its strong support in 2013 when GSP Plus status was accorded to Pakistan. He invited the traders and businessmen from Bulgaria to invest in Pakistan, particularly in Sialkot, and help strengthen business ties.

He said that the promotion of business to business linkages could play key role in the promotion of the bilateral trade. SCCI senior vice president Khurram Azeem Khan, vice president Jalil Aslam and general secretary Tariq Mehmood Malik were also present.