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FAISALABAD: Bulgarian Ambassador Ms. Irena Genadieva Gancheva stressed on Thursday that Pakistan and her country must expedite their efforts to exploit the untapped business potential between the two countries.
She was addressing the business community at Faisalabad Chamber of Commerce and Industry (FCCI) here. She said that the Joint Economic Commission (JEC) of Pakistan and Bulgaria was scheduled to be held last year, which was deferred due to outbreak of coronavirus pandemic. She was optimistic that it would now be held soon to deal with the problems hampering economic cooperation between the two countries. She said that the SME sector was the common economic strength of two countries and they must promote relations in these sectors.
She also endorsed a proposal for exchange of students, faculty members and businessmen to cultivate close liaison and assured that full support would be provided in this regard. She also expressed concern over the recent devastating floods in Pakistan and said that Islamabad should avail the facility of GSP Plus to overcome these losses. She said that Pakistan should comply with human rights, labour and environment related laws and clarified the restriction was not Pakistan specific and it was for all countries availing the facility of GSP Plus.
Responding to a question, the ambassador said that Bulgaria was offering the best healthcare facilities while it has top-class medical teaching institutions. She said that many Pakistani students were studying in Bulgaria.
Ms. Irena Genadieva Gancheva identified the highly developed IT sector of Bulgaria and said that it offered unlimited opportunities in the fast growing sector. “Sofia Technical Park is the main attraction for the world class IT companies from other countries,” she said and added that her country was providing the highest speed of Internet in addition to supplying spare-parts for automobiles throughout the EU. Ms. Irena said that 90 per cent of the EU traffic passes through Bulgaria, hence it has a comprehensive road and railway network linking almost all European countries.
She also mentioned the first joint webinar of Pakistan and Bulgaria and said that it would open new avenues of cooperation in the fields of security, economy and energy. Responding to a yet another question, she promised reviewing the complaints regarding restrictions on opening bank accounts or warehouses in Bulgaria by foreigners. She also appreciated the proposal for promotion of bilateral tourism and said that both countries had scenic natural valleys and historic monuments. Ms. Irena said that the private sector was taking care of tourism in Bulgaria and she would try to link them with Pakistani counterparts.
Earlier Dr. Sajjad Arshad, Senior Vice President FCCI, introduced Faisalabad and FCCI and said that textile was its iconic representation of Faisalabad around the world. This city is contributing 20pc share to national GDP while its share in textile export is around 45pc. He said that Pakistan has 65pc youth of productive age which could be utilised by developed countries according to their own needs. He said that Faisalabad has the largest industrial estate where Bulgaria and Pakistan could establish hi-tech industrial units with technology transfer.
A question answer session was also held which was participated by Dr. Habib Aslam Gaba, Muhammad Tayyab, Ghulam Hussain, Danial Sheikh and other executive members.
Later, Dr. Sajjad Arshad presented the FCCI shield to Ms. Irena Genadieva Gancheva. Vice President Haji Muhammad Aslam Bhalli, Muhammad Azhar Chaudhry, Mian Abdul Waheed, Shafique Shah and Madam Nighat Shahid, former president Women Chamber, were also present.
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