The Ambassador of the Republic of Bulgaria today extended a formal invitation to Pakistan’s private sector to participate in the upcoming third session of the Joint Inter-Governmental Commission for Economic Cooperation, urging businesses to seize the opportunity to forge direct connections and explore untapped trade potential.
Speaking during a visit to the Karachi Chamber of Commerce and Industry (KCCI), Ambassador Irena Gancheva emphasized that with both nations celebrating the 60th anniversary of their diplomatic relations this year, it is an ideal time to advance economic collaboration.
The Joint Inter-Governmental Commission, a formal government-to-government mechanism established in 2015, held its inaugural session in Sofia and a second session in Islamabad in 2019. The ambassador expressed hope that Pakistani business representatives would actively join government officials for the third session, scheduled to take place in Bulgaria next year.
To facilitate direct engagement, Gancheva underscored the importance of organizing a Business-to-Business (B2B) forum on the sidelines of the commission. She noted this would help identify specific areas of mutual economic interest between Bulgarian and Pakistani enterprises. Further details will be shared once a schedule is finalized.
President KCCI Muhammad Rehan Hanif welcomed the envoy, stating that the visit presented a significant opportunity to strengthen economic relations. He acknowledged that despite long-standing friendly ties, there remains substantial untapped potential for expanding bilateral trade, investment, and people-to-people linkages.
Hanif reaffirmed KCCI’s commitment to fostering international commercial cooperation and expressed keen interest in expanding partnerships in key sectors. These include information technology, agriculture, food processing, pharmaceuticals, textiles, tourism, logistics, and renewable technologies.
The KCCI President also highlighted the promising prospects for joint ventures, technology transfer, and enhanced collaboration between the Small and Medium-sized Enterprises (SMEs) of both nations.
He outlined Pakistan”s diverse export portfolio suitable for the Bulgarian market, which includes textiles, apparel, leather goods, agro-based products, sports goods, surgical instruments, and IT services.
Having been posted in Pakistan for four years, Ambassador Gancheva stressed the importance of maintaining a direct dialogue with the business community in Karachi, describing it as the nation”s primary commercial hub. “I am here to provide you with more information and motivate you to explore opportunities for trade and business with Bulgaria,” she remarked.
The ambassador provided an overview of her country, noting its strategic location as a European Union member state that serves as a bridge between Europe, Asia, and the Middle East. She pointed out Bulgaria”s proximity to Turkey, a priority partner for Pakistan, with just a short flight separating Istanbul and Sofia.
She also highlighted Bulgaria”s industrial strengths, stating that the country produces 90 percent of the parts used in European automobiles and has established expertise in agriculture, engineering, pharmaceuticals, and renewable energy.
The meeting was also attended by Senior Vice President Muhammad Raza, Chairman Diplomatic Missions and Embassies Liaison Subcommittee Ahsan Arshad Sheikh, and other senior members of the KCCI.