We are working on balancing and increasing bilateral trade between Bulgaria and China. During the first six months of 2024, the total trade exchange with China amounts to USD 1.7 billion. The Deputy Minister of Economy and Industry Nikolay Pavlov said this during a meeting with Deputy Mayor of Ningbo Municipal People’s Government Xu Yanan, which took place at the Ministry of Economy and Industry on October 28, 2024.
“There are untapped opportunities for expanding Bulgarian exports to China and specifically the products for which our country is recognized in Asia. An example of this is agricultural and food products, essential oils and cosmetics, wine and mineral water,” Pavlov pointed out.
The Deputy Minister of Economy added that in November 2024, the Center for the Promotion of Cooperation in the Field of Agriculture between China and the countries of Central and Eastern Europe (CPCFACCEE) plans to officially open a new permanent pavilion with exhibition goods from Bulgaria and the countries of Central and Eastern Europe (CEE) and a new liaison office of CPCFACCEE in the city of Ningbo. “One of the main functions of the pavilion will be to provide information and guidance to producers from Bulgaria and CEE who wish to enter the Chinese market. Through the permanent pavilion, it will be possible to promote food, beverages, cosmetics, and other products,” he explained.
Pavlov pointed out that for Bulgaria it is important to attract more Chinese investments in sectors in which our country has traditional advantages and those that provide high added value through the introduction of innovations and high level of competitiveness of the economy. “In 2023 and early 2024, Chinese companies from various sectors expressed interest in investing in Bulgaria,” Pavlov noted.
The city of Ningbo, Zhejiang Province, People’s Republic of China (PRC) is located on the coast of the East China Sea and is an important port of the country. The city traditionally hosts the China-CEEC Expo and International Consumer Goods Fair. The fourth edition of the expo will be held in May 2025. This is the only national-level expo in China that is oriented solely towards the countries of Central and Eastern Europe. “The city aims to expand Bulgarian imports to China, beyond the well-known goods such as rose oil and various products from Bulgaria,” noted Xu Yanan, Deputy Mayor of Ningbo.