Bulgarian Ambassador calls for joint ventures.

LAHORE -- Bulgarian Ambassador Aleksandar Borisov Parashkevov said on Saturday that lowest duties and tax rates, overall taxes were around 10 per cent and also tax holidays had made his country a lucrative destination for investment. Pakistani businessmen should avail this opportunity by joining hands with their Bulgarian counterparts.

Talking to business community here at Lahore Chamber of Commerce and Industry (LCCI), the Ambassador said that Special Economic Zones (SEZs) in Bulgaria had all facility for investors. He mentioned that Pakistan and Bulgaria had deep diplomatic relations of over 55 years and there were also political relations among the two countries but this was the time to bring private sectors of the two countries closer to each other.

Aleksandar Borisov Parashkevov said that there was a dire need to exchange trade and industry related information to cement mutual trade and economic ties. "Bulgaria is EU (European Union) member state and enjoys a lot of benefits in this respect. Bulgaria can be a gateway to European Union for Pakistani businessmen, as Bulgaria is connected with Pakistan by road via Iran so that the trade is more convenient among the two countries," he maintained.

LCCI President Irfan Iqbal Sheikh said that Pakistan and Bulgaria enjoyed cordial diplomatic, political and economic relations. He appreciated Bulgaria for its continued support for GSP Plus status which had critical importance in boosting Pakistan-EU trade relations. Total trade volume between Pakistan and Bulgaria had been averaging around US $ 33 million for the last few years that did not reflect the actual potential of bilateral trade, he argued.

To enhance the trade volume, he stressed the need to capitalize on the progress made at 2nd Session of Pakistan-Bulgaria Inter-Governmental...