Bulgaria has invited Indian companies to make it a home base for the European Union and take advantage of its multi-lingual workforce and tax incentives.

Assuring a hassle-free investment opportunity in Bulgaria, its Ambassador to India, Mr Borislav Kostov, said there is immense scope to increase trade ties between India and Bulgaria in IT, hi-tech, pharmaceuticals, food processing and other areas.

Addressing a meeting hosted at Fapcci, the Ambassador said Bulgaria is keenly looking at the prospect of free trade agreement between India and European Union which will have a positive impact on bilateral trade.

Citing the examples of Elder Pharma’s acquisition in Bulgaria and their efforts to increase presence in the region, he felt other companies in drugs and pharma sector could look at tapping the local market.

He said Bulgaria’s membership to the EU and potential that India holds for trade could help accelerate business ties.

Tourism

Mr Kostov said that for Bulgaria with a country of 7.3 million already has more than 6 million tourist visitors. It is one of the most attractive destinations. “We expect the number of tourists to cross the figure of our population this year. As a part of tourist promotion, we are conducting a special programme for Indian travel and tour operations and taking them to Bulgaria,” he said.

WINES & ROSES

“Bulgaria produces some of the finest wines. We are keen that the FTA talks cover this aspect so that Indians could savour them. The Rose Oil, which is priced as much as gold in volume and used in perfumery, is one of the most sought after products from this East European nation,” he said.

>vrishi@thehindu.co.in

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