Discussion of opportunities for cooperation with Pakistani partners

The President of the Bulgarian Chamber of Commerce and Industry Tsvetan Simeonov had a working meeting with the Chargé d’Affaires a.i. of the Embassy of the Islamic Republic of Pakistan in Sofia Mr. Marwan Alex Ayyash.

The aim of the meeting was to discuss the commercial and economic cooperation between the two countries and the opportunities for its promotion. The need and possibility of establishing bilateral economic ties was also discussed. According to information of the Bulgarian Ministry of Economy, commodity exchange is the main form of commercial cooperation between the two countries. Trade relations with the European Union are very important for Pakistan, and Bulgaria is considered a strategic partner. Bulgarian exports to Pakistan in 2017 amounted to USD 15.9 million, a growth of 14.4% compared to 2016, and imports from Pakistan in 2017 amounted to USD 21.1 million, an increase of 33.5% compared to the same period in 2016.

Tsvetan Simeonov outlined the sectors of mutual interest, including agriculture, light and food industry, hydropower, machine building, IT, etc.

The development of cooperation with Pakistani partners within a future bilateral business council to be set up by BCCI and the Federation of Pakistani Chambers of Commerce and Industry was also discussed.