The visit of the Bulgarian business delegation to India continues

This morning a meeting with local businessmen in the regional PHD Chamber in New Delhi was held. The organization was founded in 1905 and serves companies from 11 regions in India. PHD Chamber has a direct membership of over 1,600 corporate entities and serves more than 45,000 indirect members through 150 Association Members and 8 Secretarial Affiliates. 

 

The meeting at PHD Chamber was opened by the Chairman of the International Affairs Committee for Europe Mr. Vijay Mehta. He said that this was the first visit paid by Bulgarian business delegation to the Chamber. “We consider Bulgaria a strong economy with free market and well developed sectors of industry, such as: IT, machine building, agriculture, pharmacy, etc. However, constant efforts to improve bilateral trade and economic relations are needed for us to achieve fruitful collaboration,” Mr. Mehta said. 

 

The President of BCCI Tsvetan Simeonov confirmed that India is a serious economic partner of Bulgaria. Relations between the chambers of commerce of the two countries date back to the 1970s when a Memorandum of Understanding and Cooperation Agreement in the field of arbitration proceedings were signed between the national chambers. Yesterday, those agreements were renewed and became prerequisite for improving the bilateral economic relations. Mr. Simeonov presented the interests of the Bulgarian business delegation. He outlined the main parameters of Bulgarian economy, including the low taxes, low state debt, and equal treatment of Bulgarian and foreign investors. The advantages provided by the two Bulgarian seaports in Burgas in Varna when trading with Asian partners were emphasized. The President of BCCI invited Indian companies to start business in Bulgaria and recommended that they register limited liability companies because the registration is quick and only EUR 1 is required for the registration, or that they open trade representation offices of foreign companies in Bulgaria. 

 

Mr. Suman Jyoti Khaitan, Senior Vice-President of PHD Chamber welcomed the participants and in his turn announced that India is willing to accept investments in all sectors of economy. He made a presentation of PHD Chamber and its activity and services provided to local and foreign business entities. 

 

The official delegation which takes part in the 17th session of the Bulgarian – Indian Intergovernmental Joint Committee on Economic and Scientific and Technical Cooperation, headed by the Minister of Economy, Energy and Tourism Delyan Dobrev also joined the event. 

 

The Ambassador Extraordinary and Plenipotentiary of Bulgaria to New Delhi H.E. Borislav Kostov introduced the Regional Governors of 5 Bulgarian regions accompanying the Minister in India, and presented some of the regional business projects that can be developed. 

 

Minister Dobrev discussed the business and investment opportunities in Bulgaria with representatives of about 40 Indian companies. He invited the businessmen who attended the event to participate in another meeting in Bulgaria. 

 

Today’s meeting ended with lively bilateral talks. Later the first meeting between BCCI and the Confederation of Indian Industries is envisaged.

 

16.10.2012