Deputy Minister of Economy and Industry Nikolay Pavlov and representatives of the Ministry of Commerce of China discussed the deepening of economic and trade relations between the two countries. The Chinese delegation was headed by Yu Yuantang, Director General of the Department of European Affairs at the Ministry of Commerce, and representatives of the Embassy of the Republic of China in Bulgaria also participated in the meeting, which was held at the Ministry of Economy and Industry.
‘Our two countries have a traditional relationship and many opportunities for cooperation. We are here to see how we can build on our relationship’, Yu Yuantang said during the meeting.
Deputy Minister Pavlov presented to the Chinese delegation the Bulgarian industrial zones where Chinese companies can invest. He outlined the opportunities for investment in industrial sites with modern infrastructure for positioning Chinese production facilities in Bulgaria.
‘Chinese companies can rely on the support of the National Company of Industrial Zones EAD, which is a 100% state-owned company with a sole owner of the capital — the Ministry of Economy and Industry’, Deputy Minister Palov said.
During the talks the main sectors of economic cooperation between China and Bulgaria were outlined. In 2023, trade between the countries amounted to $3.98 billion. Bulgarian exports grew by 32.9% and last year amounted to 1.1 billion dollars. Imports from China are down 14.4% and are worth $2.88 billion.
Our country’s ambition is to expand our exports with agricultural and food products, essential oils and cosmetics, wine and mineral water, Deputy Minister Pavlov said. The representatives of the Chinese delegation focused on the opportunities for Chinese companies to be involved in the construction of infrastructure projects in Bulgaria.
At the meeting, it was emphasized that our country welcomes Chinese companies that want to invest in sectors with high added value, such as high-tech industrial production and services, information and telecommunication technologies, mechanical engineering, automotive and auto parts production, electronics and electrical engineering, agriculture and food industry, tourism.
It was also discussed that the next session of the Bulgarian-Chinese Intergovernmental Joint Commission for Economic Cooperation should be held in Sofia in 2025. Both sides agree to organise a bilateral business forum alongside the event.