Phillip Morris Determined to Become Leading Brand in Bulgaria
Vasilescu made his statement after he signed a memorandum for cooperation with the Bulgarian Customs Agency.
The memo provides for joint fight against illegal trade with tobacco products, cigarettes smuggling and unpaid taxes. The memo provides also for mechanisms for exchange of information between the company and the agency.
"We have serious long-term plans for development in Bulgaria and we will seek to become brand N1 in the country," Vasilescu said.
Philip Morris has no plans to join the privatisation of the Bulgarian tobacco monopoly Bulgartabac, but the company plans to increase its market share in the country, according to him.
The company stepped on the Bulgarian market a year ago as a leading importer of cigarettes.
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