H.E. Divyabh Manchanda, Ambassador Extraordinary and Plenipotentiary of India to Bulgaria visited BCCI and met with its President Mr. Tsvetan Simeonov.
The meeting was dedicated to the upcoming visit of Bulgarian business delegation to India in the period 13 – 17 October 2012, accompanying Minister of Economy, Energy and Tourism Delyan Dobrev. Minister Dobrev will visit the country on the occasion of the 17th session of the Bulgarian – Indian Intergovernmental Joint Committee on Economic and Scientific and Technical Cooperation. In order to expand the ties between companies from the two countries, during the session a Bulgarian – Indian Business Forum will be held organized by the Federation of Indian Chambers of Commerce and Industry – a partner of BCCI.
Representatives of 14 Bulgarian companies from the sectors energy, military industry, machine-building, food industry, cosmetics, wine production and tourism will participate in the business delegation and will get acquainted to potential Indian partners.
Ambassador Manchanda informed about the Regional Committee for Cooperation with Central Europe recently established with the Confederation of Indian Industries in order to promote and intensify trade and investment relations between India and Central European countries.
At the session of the Bulgarian – Indian Intergovernmental Joint Committee on Economic and Scientific and Technical Cooperation opportunities for development of bilateral cooperation will be discussed in the sectors of mutual interest such as trade and investments, energy, tourism, agriculture, transport, IT, telecommunication, etc.
India is a long-standing trade partner of Bulgaria in South Asia and a perspective investor in view of its economy’s potential. In 2011 bilateral trade increased by 42% as compared to 2010 and reached USD 173 million. Bulgarian exports amounted to USD 88 million (52% registered growth). It is mainly composed of structures and parts for structures, glass fiber and articles thereof, machine parts. Our country imports from India mainly heterocyclic compounds, cotton yarn and cloth, cane sugar.