Given the huge untapped potential of India-Bulgaria trade & commerce, co-operation between India & Bulgaria will evolve into a more matured and comprehensive bilateral relationship, in the near future : commented HE Mr. Petko Doykov, Ambassador of Republic of Bulgaria to India. He was speaking at an Interactive Session on “India- Bulgaria Bilateral Trade” organized by MCCI in Kolkata today.
Though Bilateral trade between the two countries has almost doubled during 2012 – 2016, there is still considerable untapped potential keeping in view Bulgaria’s geo-strategic location, EU membership and India’s strong economic growth and profile, said the Ambassador. Mutually beneficial opportunities exist for trade & investment in sectors like : Agriculture & Food Processing, IT, Pharmaceuticals, Biotechnology, Manufacturing, Tourism & Hospitality, Infrastructure, Real Estate & Construction etc., he added. The total bilateral trade between the two countries between April, 2017 & January, 2018 was US $ 265.67 Million, of which India’s exports to Bulgaria was US $ 143.52, and India’s imports from Bulgaria was US $ 122.15 Million.
Mentioning specifically that the Tourism sector can significantly drive mutual engagement, Ambassador Doykov said that Tourism & Culture can really create strong mutual synergies between the two countries. Bulgaria, with its beautiful mountains, the Black-Sea coast boasting of cities like Varna and Burgas, has become an attractive destination for Bollywood film Industry too. Several big banner Indian movies like “Bahubali”, “Dilwale” among others, were extensively shot at various locations in Bulgaria, he added. Indian films have helped in popularizing Bulgaria as an interesting tourist destination among the Indian and South Asian public at large, the Ambassador felt.
Earlier, MCCI Vice President Mr. Vivek Gupta said that the Chamber can play a key role in bringing Bulgarian businesses into Bengal and vice versa. Mr. Vishambhar Saran, Hony. Consul of Bulgaria in Kolkata talked about the various comparative advantages that the Bulgarian economy can offer to Indian and global investors.