Pakistan, Bulgaria agree to work together for promotion of bilateral trade

ISLAMABAD, Pakistan: The two-day Second Session of Pakistan-Bulgaria Inter-Governmental Commission concluded in Islamabad on Tuesday, at which they two sides agreed to work together for promotion of bilateral trade and investment.

The Secretary Economic Affairs Division Noor Ahmed led the Pakistani side while Bulgaria’s Deputy Minister of Economy Liliya Ivanova headed her country’s delegation.

The Bulgarian side agreed to facilitate the export of Pakistani citrus fruit, mango, rice, raw cotton, dates, fruits and marble to Bulgaria and other Countries of Eastern Europe whereas Pakistan will facilitate export of Bulgarian products in Pakistan and third Countries.

The two sides also agreed to encourage their businessmen for participation in trade fairs and exhibition and to endeavor for establishment of joint ventures in automotive, engineering and food processing.

On the conclusion, an agreement on Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income was also signed.

During her stay in Pakistan, Liliya Ivanova called on the Minister of National Food Security and Research and Advisor to the Prime Minister on Commerce and Textile and Investment.

In his concluding remarks, the Secretary Economic Affairs Division expressed confidence that both the Countries will continue to strengthen economic and trade relations in future for mutual benefit of two countries.

The Bulgarian deputy minister of economy also reciprocated the spirit of friendship, cooperation and assured that Bulgaria will enhance cooperation with Pakistan in the identified areas.