China is in the top 10 of our trading partners globally and second among our export destinations outside the EU. This became clear during a meeting between the Minister of Economy and Industry Nikola Stojanov and the Ambassador of the People’s Republic of China in Bulgaria H.E. Dong Xiaojun.
Bulgaria will re-establish its Trade and Economic Affairs Office (TEAO) in Beijing, it was announced during the talks. ‘Bulgarian exports are still limited to a small assortment of goods and we have the ambition and the prerequisites to change this’, Nikola Stojanov stressed. In his words, that is why it was decided to have two trade representatives — in Beijing and Shanghai. ‘This is another step to support Bulgarian exports because companies are often worried about the distance and need someone to make the initial contacts on the spot, and this is exactly the role of the TEAO,’ Minister Stojanov added.
A Chinese company is exploring Bulgaria for an investment of over EUR 600 million. This was announced by Minister Stojanov during the meeting. ‘There is also interest for investment in the automotive industry and metal processing, and we are in advanced talks with several Chinese companies,’ the Minister of Economy added. According to him, our country has a lot to offer to Asian companies and the complicated geopolitical situation increases their interest. ‘Companies from Asia want to have immediate access to the single European market and in recent months there has been an increase in investment interest,’ Nikola Stojanov said.
It was also agreed that the Ministry of Economy and Industry, together with the Embassy of China, will organize a meeting of the Minister with representatives of Chinese companies operating in Bulgaria. The conversation will be in the format of a ‘breakfast for investors’ and will be aimed at business representatives to share the problems they encounter in Bulgaria and their plans for new investments.
H.E. Dong Xiaojun stressed that next year will mark the 75th anniversary of the establishment of diplomatic relations between Bulgaria and the People’s Republic of China. ‘We have very good and strong ties, and on their basis we can achieve much more in the economic field,’ the Chinese diplomat stressed. He briefed the Bulgarian minister on the work of the EU SME Centre in Beijing. The Centre provides assistance to small and medium-sized enterprises from EU countries to enter the Chinese market. He stressed that the Embassy in Bulgaria also strives to assist every Chinese company entering the country and to promote the opportunities our country can offer them.
They also discussed upcoming exhibitions and forums that are taking place in both countries as an opportunity to promote opportunities for joint projects between Bulgarian and Chinese companies and to encourage investment.