KARACHI: Ambassador of the Republic of Bulgaria Irena Gancheva has called for exploring new avenues of collaboration between Pakistan and Bulgaria, particularly in economy and trade, as the two countries celebrate the 60th anniversary of diplomatic relations this year.
Speaking during her visit to the Karachi Chamber of Commerce and Industry (KCCI) on Tuesday, the Bulgarian envoy highlighted that both countries already maintain a formal government-to-government framework through the Joint Inter-Governmental Commission for Economic Cooperation.
Strengthening Institutional and Business Links
The commission, established in 2015, held its first session in Sofia, followed by a second meeting in Islamabad in 2019. Ambassador Gancheva said the third session is expected to be held in Bulgaria next year, which could further strengthen bilateral economic ties.
She emphasised the need to complement government-level engagement with business-to-business (B2B) forums, noting that direct interaction between private sectors is crucial for expanding trade and investment.
“I have always considered it essential to maintain direct dialogue with the business community, especially in Karachi, Pakistan’s largest city and commercial hub,” she said, stressing the importance of continued outreach.
Bulgaria as a Gateway to Europe
The ambassador noted that Bulgaria, though smaller with a population of 6.4 million, holds a strategic position as a European Union member state, offering Pakistani businesses access to European markets. She added that Bulgaria serves as a bridge between Europe, Asia and the Middle East, sharing a border with Turkey, one of Pakistan’s key partners.
Highlighting industrial strengths, she said Bulgaria produces 90 per cent of the parts used in European automobiles and has strong capabilities in agriculture, engineering, pharmaceuticals, renewable energy and manufacturing.
KCCI Welcomes Expanded Cooperation
KCCI President Rehan Hanif said Pakistan and Bulgaria enjoy friendly relations based on mutual respect, but there remains significant untapped potential in trade and investment. He expressed interest in cooperation across sectors including IT, agriculture, food processing, textiles, pharmaceuticals, tourism, logistics and renewable energy, while also pointing to opportunities for joint ventures, technology transfer, vocational training and SME collaboration.
Both sides agreed that closer engagement between business communities could open new chapters in Pakistan–Bulgaria economic relations.
