LCCI for ag­gres­sive strat­egy to win Bul­gar­ian mar­ket

The Pak Banker - - NATIONAL -

The La­hore Cham­ber of Com­merce & In­dus­try has de­cided to ex­plore Bul­gar­ian Mar­ket with the help of Pak­istani Em­bassy over there. "Mar­ket Re­search would be done to in­crease the vol­ume of bi­lat­eral trade."

The de­ci­sion was taken at a meet­ing be­tween LCCI Se­nior Vice Pres­i­dent Al­mas Hy­der, Vice Pres­i­dent Nasir Saeed and Pak­istan Am­bas­sador-des­ig­nate to Bul­garia Babar Hashmi here at the La­hore Cham­ber of Com­merce & In­dus­try on Wed­nes­day. The LCCI of­fice-bear­ers said that Bul­garia is a non-tra­di­tional mar­ket for Pak­istani mer­chan­dises there­fore all re­sources should be uti­lized to strengthen trade and eco­nomic ties be­tween the two coun­tries. Pak­istani em­bassy in Bul­garia should play a sig­nif­i­cant role in this re­gard and bring the pri­vate sec­tors of the two coun­tries closer.

The LCCI Se­nior Vice Pres­i­dent Al­mas Hy­der said that we should con­sider all ways and means to se­cure proper place in the Bul­gar­ian mar­ket. He said that Bul­garia is lo­cated at South-East of Europe and shares bor­ders with im­por­tant coun­tries like Ro­ma­nia, Turkey and Greece etc and could help Pak­istani prod­ucts to find their way in th­ese coun­tries as well.

He said that Bul­garia is one of the few coun­tries which have least in­ter­ac­tion with us. There is a dire need de­velop good trade and eco­nomic re­la­tions with Bul­gar­ian busi­ness­men that will be pos­si­ble if Pak­istani mis­sion in Bul­garia play a help­ing role in this re­gard.

"Al­though, the bal­ance of trade is in favour of Pak­istan but its vol­ume has to be in­creased. From 2013 to 2014, the to­tal trade inched up from dol­lar 23.2 mil­lion to dol­lar 33 mil­lion. Pak­istan's ex­ports to Bul­garia were to the tune of dol­lar 12.7 mil­lion in 2013 which in­creased to dol­lar 19.8 mil­lion in 2014. Sim­i­larly in the same pe­riod, Pak­istan's im­ports from Bul­garia slightly en­hanced from dol­lar 10.5 mil­lion to dol­lar 13.2 mil­lion. All th­ese fig­ures strongly sug­gest for tak­ing some se­ri­ous steps to bring some pos­i­tive change in the cur­rent level of trade, Al­mas Hy­der added.

He said that mar­ket In­tel­li­gence Re­ports are serv­ing as a good tool to know about the po­ten­tial ar­eas where Pak­istan can try to take some share. He urged the Pak­istani diplo­mat to mar­ket Pak­istan as a lu­cra­tive place for Bul­gar­ian in­vestors who can use it as a base for ac­cess to Chi­nese and In­dian mar­kets. More­over, Pak­istan of­fers great op­por­tu­ni­ties to Bul­gar­ian busi­ness­men to in­vest in en­ergy sec­tor es­pe­cially on coal based power projects.

The LCCI Vice Pres­i­dent Nasir Saeed said that Bul­garia has very im­por­tant sea­port called Varna. We need to study the op­por­tu­ni­ties avail­able for us to ac­cess the land­locked coun­tries of Europe which are si­t­u­ated in the neigh­bours of Bul­garia like Ser­bia and Hun­gary.

He said that trade diplo­macy has done won­ders in bring­ing two coun­tries closer to each other. We would like to re­quest you to please make use of all the op­tions avail­able to you to gen­er­ate as many busi­ness op­por­tu­ni­ties for Pak­istan as pos­si­ble. We will ap­pre­ci­ate to re­ceive any busi­ness in­quiry through your ref­er­ence.

Pak­istan's ma­jor ex­ports to Bul­garia com­prise bed linen, wo­ven cot­ton fab­rics, poly­mers of styrene, elec­tro-med­i­cal ap­pa­ra­tus and cot­ton yarn etc. We mostly ex­port raw or semi fin­ished goods to Bul­garia which fetch much lit­tle price. We need to study Bul­gar­ian mar­ket with spe­cial fo­cus on ex­plor­ing op­por­tu­ni­ties to ex­port fin­ished goods. Pak­istan im­ports to­bacco, sun­flower seeds, sul­phates and worn cloth­ing etc., from Bul­garia.

Pak­istan Am­bas­sador- des­ig­nate to Bul­garia Babar Hashmi said that the fact re­mains that Bul­garia has only seven mil­lion pop­u­la­tion but it can open up doors of neigh­bour­ing coun­tries to Pak­istani mer­chan­dise. He stressed the need for ex­change of trade del­e­ga­tions and their par­tic­i­pa­tion in each other's ex­hi­bi­tions. The Am­bas­sador-des­ig­nate said that he would share the list of all trade re­lated events of Bul­garia with LCCI. He said that he would try his level best to send more and more Bul­gar­ian busi­ness­men to Pak­istan.

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