FAISALABAD: Embassy of Bulgaria will be co-working to promote women empowerment and growth of women-led businesses with Faisalabad Women Chamber of Commerce and Industry (FWCCI) to venture for export, B2B meetings and interaction with the Chambers of Commerce in Bulgaria, said Irena Gendaieva Gancheva, Ambassador of Republic of Bulgaria.

Addressing to the members of FWCCI here, she said that there are ample opportunities for improving the volume of bilateral trade between Bulgaria and Pakistan where women businesses can contribute a lot with export to Bulgarian markets. She said that Bulgaria is member of European Union and Pakistan also enjoys GSP Plus status under which a lot of export opportunities are available to Pakistan women-led businesses, particularly in textile products.

She said that she is very much impressed to the FWCCI women products. She said that as Bulgaria is crossroad country in South Eastern Europe, there are ample opportunities for Pakistani women business to explore the market potential also in adjacent markets.

As regards, huge trade deficit between both the countries, she said that it could be overcome with diversification of export products from Pakistan particularly for enhancement of textile exports as Bulgaria imports 50 percent of their textile consumption. She said that Embassy of Bulgaria in Islamabad will be more than happy to organize events for women entrepreneurship development and may facilitate in arranging B2B meetings in various areas of women products. She also offered for participation in various trade fairs held in Bulgaria. She said that tourism development is a potential area between both the countries. She was hopeful for promotion of Youth Exchange program for students’ higher education in Bulgaria. She also showed sympathy with the flood affectees in Pakistan.

Earlier, in her welcome address, Rubina Amjad, President FWCCI introduced her chamber as one of the premier women chambers in Pakistan. She said that Pakistan and Bulgaria have traditionally enjoyed friendly and cooperative relations. She said that Pakistani exports to Bulgaria in 2021 were $15 million while imports from Bulgaria were US million. She said that the huge trade deficit needs to be reduced by encouraging more exports to Bulgaria particularly of women products.

She said that FWCCI has already set up ‘Women Incubation Centre’ and also in process to establish ‘100 Acres Women Cluster’ and ‘Technical Training Centre’ at Allama Iqbal Industrial Estate.

She suggested that women entrepreneurs from Bulgaria for joint ventures, technology transfer, buy back arrangements, organizing single country exhibitions both in Pakistan and Bulgaria, exchange of women entrepreneurs’ delegation and exchange of sector specific and product-specific market information of both the countries.

A question-answer session was also held wherein Dr Najma Afzal, Cristena Peter, Shazia Sharif and others took part. Vote of thanks was offered by Abiha Hamid, Vice President FWCCI while a large number of women were present at the occasion.

Copyright Business Recorder, 2022