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Pak-Bulgaria IGC for enhancing economic ties in livestock, tourism sectors

Staff Reporter

Islamabad

Pakistan Bulgaria Inter-Governmental Commission (IGC) on Tuesday agreed to enhance trade, economic cooperation in Information and communications technology (ICT), agriculture, livestock, tourism, culture, maritime and railways sectors.
The agreement reached here in the 2nd Session of Pakistan Bulgaria Inter-Governmental Commission (IGC). Secretary, Economic Affairs Division Noor Ahmed, and Deputy Minister of Economy of Bulgaria Liliya Ivanova, led their respective delegations.
Both sides agreed to work together for promotion of bilateral trade and investment.
Bulgarian side agreed to facilitate the export of Pakistani citrus fruit, mango, rice, raw cotton, dates, fruits and marble to Bulgaria and other countries of Eastern Europe, while Pakistan would facilitate export of Bulgarian products in Pakistan and third countries.
Both sides also agreed to encourage their businessmen for participation in trade fairs and exhibition and to endeavor for establishment of joint ventures in automotive, engineering and food processing.
On the conclusion of the IGC, an Agreement on Avoidance of Double Taxation and the Prevention of Fiscal Evasion with respect to taxes on income was also signed by the Director General, FBR and Deputy Minister of Economy, Republic of Bulgaria.
Representatives of various Ministries, organizations including Commerce, Information Technology, Railways, Maritime Affairs and National Food Security participated in the session.
Secretary, Economic Affairs Division Noor Ahmed, in his concluding said that both the countries will continue to strengthen economic and trade relations in future for mutual benefit of two countries.
The Bulgarian Deputy Minister of Economy also reciprocated the spirit of friendship, cooperation and assured that Bulgaria will enhance cooperation with Pakistan in the identified areas.
During her stay in Pakistan, Deputy Minister of Economy of Bulgaria , Liliya Ivanova also hold meeting with the Minister of National Food Security and Research and Advisor to the Prime Minister on Commerce and Textile and Investment.