KARACHI: Ambassador Irena Gancheva of Bulgaria has called on Pakistan’s private sector to engage more actively in the bilateral economic dialogue, as she highlighted opportunities for enhanced trade and cooperation. This year marks the 60th anniversary of diplomatic relations between the two countries, offering a timely moment to explore new avenues for collaboration, she noted during a meeting at the Karachi Chamber of Commerce and Industry (KCCI).
The ambassador emphasized the significance of the Joint Inter-Governmental Commission for Economic Cooperation, established in 2015, which serves as a formal platform for government-to-government discussions. The third session of the Commission is slated to occur in Bulgaria next year, and Ambassador Gancheva expressed her hope that Pakistani business representatives would actively participate alongside government officials.
She advocated for a Business-to-Business (B2B) forum to be held alongside the Commission’s session, asserting that direct interaction with Bulgarian enterprises could help identify specific areas of mutual economic interest. She encouraged Pakistani businesses to prepare in advance for this opportunity.
Highlighting Bulgaria’s strategic location and economic strengths, the ambassador pointed out that Bulgaria offers access to the European market as an EU member state and serves as a bridge between Europe, Asia, and the Middle East. She underscored the importance of maintaining dialogue with Karachi’s business community, given its status as Pakistan’s largest city and a major commercial hub.
KCCI President Muhammad Rehan Hanif welcomed the ambassador’s visit as an opportunity to strengthen economic relations between the two nations. He emphasized the untapped potential for expanding bilateral trade, investment, and cultural exchanges, despite geographical distance.
President Hanif outlined KCCI’s role in promoting international commercial cooperation and expressed interest in expanding ties in sectors such as information technology, agriculture, and renewable technologies. He highlighted the potential for joint ventures, technology transfer, and enhanced SME-to-SME collaboration.
He also pointed to Pakistan’s diverse portfolio of exportable products suitable for the Bulgarian market, including textiles, leather goods, and IT services, which could foster deeper trade cooperation. Karachi’s significant contribution to Pakistan’s economy underscores KCCI’s commitment to fostering productive international partnerships.