site.btaBulgaria-Pakistan Intergovernmental Economic Committee Holds Second Session

May 21 (BTA) - Opening the second session of
the Bulgaria-Pakistan intergovernmental committee for economic
cooperation on Tuesday, Bulgarian Deputy Economy Minister Lilia
Ivanova said that Pakistan is an important Asian partner for her
 country. In the past years, two-way trade has been following an
 upward trend and reached 34 million US dollars last year but
remains well below the potential, the Deputy Minister said.

She said there are ample opportunities for expanding export to
the huge market of Pakistan (over 200 million people) to include
 more foods such as refined sunflower oil, canned fruit and
vegetables, dairy products and grains, as well as cosmetics,
machines, farming equipment and medicines.

She said that Bulgaria hails the establishment of joint ventures
 in these areas.

Official Bulgarian statistics shows that Bulgarian export to
Pakistan totalled 13.4 million dollars in 2018 and was dominated
 by tobacco, clothing, engines and pumps.

At the same time Pakistani import into Bulgaria totalled 20.7
million dollars and included bed linen and cotton textiles,
among others.

During her visit to Islamabad Ivanova met with Abdul Razak
Dawood, Adviser for Commerce, Textile, Industry & Production and
 Investment at the Ministry of Commerce, and with Sahibzada
Muhammad Mehboob Sultan, Federal Minister of Food Safety and
Research.

The two sides signed an agreement on avoidance of double
taxation, which is expected to help step up economic
cooperation. RY/LN/