Bulgaria Boosts Trading Ties With China Within EU Framework (PHOTO)

(MENAFN- Trend News Agency) BAKU, Azerbaijan, July 2. Trade relations between the Republic of Bulgaria and the People's Republic of China are developing positively, Trend reports citing the Ministry of Economy of Bulgaria.

The intergovernmental exchange of goods and services between the two nations escalated to approximately $4 billion in the fiscal year 2024. Deputy Minister of Economy and Industry Doncho Barbalov articulated this during the inaugural session of a symposium focused on trade and investment synergies between China (Sichuan) and Bulgaria.

The gathering witnessed the participation of the Vice Governor of Sichuan Province, Dong Weimin, alongside high-ranking officials from the Sichuan Development and Reform Commission, the Foreign Affairs Office, the Bureau of Economic Cooperation, and the Sichuan Council for the Promotion of International Trade.

During the symposium, Deputy Minister Barbalov underscored that the Ministry of Economy will persist in its strategic initiatives aimed at enhancing trade and industrial synergies with China, recognized as a longstanding collaborator.

“We view the development of bilateral trade and economic relations in the context of Bulgaria's full membership in the European Union and the Schengen Area and the fact that China (Sichuan) is an important partner for both the EU and Bulgaria,” Barbalov added.

According to him, Bulgarian businesses are on the lookout for fresh avenues to boost their exports to the Chinese market.

“There are prospects for further expansion of Bulgarian exports to China, particularly in the sectors of agriculture, food industry, energy, tourism, and others,” the deputy minister said.

He expressed gratitude for the working meeting held at the Ministry of Economy and Industry prior to the conference and stressed that the current visit is further proof of the mutual desire to cooperate in all areas of shared interest.

“Our country aims to attract Chinese investments in sectors where Bulgaria has traditional advantages, as well as in those that offer high added value, promote innovation, and ensure high competitiveness of the economy,” Barbalov highlighted.

The conference was was graced by delegates from various public sector entities, governmental agencies, and the corporate domain.

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