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Pakistani investor setting up textile plant in Bulgaria
23
Jun '15
Courtesy: Economy Ministry, Bulgaria
Courtesy: Economy Ministry, Bulgaria
A Pakistani investor is building a textile factory in Bulgaria at a cost of €28 million, Lyuben Petrov, Bulgarian deputy economy minister has said.
 
Speaking at the opening of the first session of the Bulgarian-Pakistani intergovernmental commission for economic cooperation in Sofia, Petrov said the work for the textile project is ongoing and it would create 5,000 jobs once operational, Bulgarian media reported.
 
The two-day meeting is being chaired by Petrov and Omar Hamid Khan, deputy secretary of the Department of Economic Affairs in the Ministry of Finance, Revenue, Economic Affairs, Statistics and Privatization, Government of Pakistan.
 
In 2014, Bulgaria-Pakistan bilateral trade was $35.3 million, down 11.1 per cent compared to 2013, according to the Bulgarian Ministry of Economy. While Bulgarian exports to Pakistan declined by 42.3 per cent to $14.7 million compared to the previous year, Bulgarian imports from Pakistan increased by 45.9 per cent to reach $20.6 million. However, Bulgarian exports jumped 49.6 per cent to $4.5 million in the first quarter of 2015. (RKS)
 

Fibre2fashion News Desk - India


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