Bulgarian investors to take benefit of Pak China Economic Corridor project: FPCCI

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ISLAMABAD
Pakistan and Bulgaria are enjoying cordial traditional relations based on high level of understanding in the political, commercial fields and on effective cooperation in international for a, however, the existing bilateral trade between both the countries is lower than the existing potential, this was stated by the President of the Federation of Pakistan Chamber of Commerce and Industry Irfan Iqbal Shaikh in a meeting with the ambassador of Bulgaria to Pakistan Irena Gancheva who visit FPCCI Islamabad.
The meeting was also attended by the members of FPCCI prominently Umar Masood ur Rehman, Vice President FPCCI, Qurban Ali, President Nagar Chamber, Sher Nabi President Ghizar Chamber, Saqib Taj Abbasi GB Member FPCCI, Farukh Alvi, Mining Assosiation, M Badar Haroon SVC Pakistan Coating Assocation and other.
While stressing the need for enhancing bilateral trade and investment relations between Pakistan and Bulgaria, the President FPCCI said that the multi-billion dollars’ Pakistan China Economic Corridor Project was also offering investment opportunities and called the Bulgarian investors to take the benefit from it.
He highlighted various sectors for investment in Pakistan including minerals, mining, oil and gas exploration, tourism, agriculture and energy generations. This would further strengthen our existing bilateral trade and diplomatic relations and the people of both countries will be mutually benefited, he added.
The FPCCI head urged the need to enhance bilateral cooperation in the field of agriculture as the large livestock potential was existing in the country and it was ranked among the top milk-producing countries, adding that Bulgaria has the world’s best expertise in yogurt production and collaboration in the field of agriculture and dairy development would further promote the output of agri-value added products.
He suggested that frequent exchange of trade delegations will establish business to business contact that will lead to joint ventures and experience sharing in different fields including agriculture development, environment, education and tourism.
Umar Masood ur Rehman emphasized that there are a number of opportunities for investments in Pakistan and the commodities which Pakistan exports to other countries while Bulgaria imports the same from other countries but both countries do not trade these with each other. He mentioned various sectors including meat and edible offal, raw hides and skins, leather footwear and other articles of leather as Pakistan has a large livestock sector.
The tobacco industry is another booming industry here, manufacturing of tobacco and tobacco substitutes and homogenized or reconstituted are also available in Pakistan. These are some potential items and commodities that may be considered for establishing trade between the two countries, Umar suggested.
Speaking on the occasion, the ambassador reiterated her resolve to further cement bilateral trade and diplomatic relations of both the countries and said that such interaction would enhance people to people contact.
She said that a Joint Economic Commission of both countries was also established in 2015 to explore opportunities for enhancing trade and investment between both the countries.
The ambassador also stressed the need to diversify the trade and investment cooperation in areas of agriculture cooperation and dairy development.