The trade between the Republic of Bulgaria and the People’s Republic of China will exceed USD 4 billion in 2023, with Bulgarian exports growing by nearly 33% compared to 2022. This was announced by Deputy Minister of Economy and Industry Nikolay Pavlov at the opening of the Bulgarian-Chinese Business Forum, which was attended by representatives of over 100 Bulgarian and Chinese companies. He emphasized that our country considers the development of bilateral trade and economic relations in the context of Bulgaria’s full membership in the European Union and confirmed that the Bulgarian government will continue to promote cooperation with China as our traditional partner.
‘Bulgarian business has a sustained interest and is looking for new opportunities to increase exports to the Chinese market, there is still unrealized potential for expanding Bulgarian exports to China, in particular of products such as agricultural and food products, essential oils and cosmetics, wine and others’, said Deputy Minister Pavlov.
He added that the Bulgarian side seeks to attract Chinese investments in sectors where our country has traditional advantages and those that provide high added value, introduce innovations and ensure high competitiveness of the economy. ‘We welcome the Chinese companies that are interested in entering the EU market and establishing their production bases in Bulgaria’, Deputy Minister Pavlov said and announced that by the end of 2023 the total invested funds from China in Bulgaria amount to 150 million euros.
During the event, the opportunities for trade and economic cooperation with the city were presented. Shanghai and a Memorandum of Cooperation was signed between the Centre for the Promotion of Agricultural Cooperation between China and Central and Eastern European Countries (CPACCCEEC) of the Ministry of Agriculture and Food and the International Chamber of Commerce of Shanghai. Shanghai.
The organizers of the Bulgarian-Chinese Business Forum are the CPACCCEEC and the Center for the Promotion of International Cooperation Trade — Shanghai. It was attended by the Minister of Agriculture and Food Dr. Georgi Tahov, H.E. Ms. Dai Qingli, Ambassador of the People’s Republic of China to the Republic of Bulgaria, heads of the Council for the Promotion of International Trade and the International Chamber of Commerce of the city of Shanghai, as well as over 100 representatives of Bulgarian and Chinese companies.