For the first half of 2018 the trade with China has increased by 22% in comparison to the same period of 2017

The Minister of Economy Emil Karanikolov said this in his address during the Fourth meeting of local leaders under the “16+1” initiative, which was held in Sofia. The forum was opened by the Prime Minister Boyko Borissov where representatives of local authorities and more than 300 representatives of businesses from China, Bulgaria and countries from Central and Eastern Europe were present. The meeting was organized by the Ministry of the Bulgarian Presidency of the Council of the European Union and the Head of the Region of Sofia.

Minister Karanikolov pointed that for the last 10 years the Bulgarian export towards China has increased tenfold and during the first six months of this year it has increased with another 10% compared to 2017, amounting to USD 366.7 million.

“We believe that there are more possibilities for expansion of Bulgarian export towards China”, Mr. Karanikolov highlighted. The Minister of Economy underlined that in order to launch Bulgarian products in the Chinese market, Bulgaria shall participate in the first edition of the Chinese international fair for imported goods in Shanghai next month. “Participation will take 32 Bulgarian companies from the sectors: food industry, cosmetics and services”, he added.

According to his words, our country can offer excellent conditions for Chinese investments in numerous sectors such as the automotive industry, automotive parts, electronics and electrical engineering, information and communication technologies and others.

Minister Karanikolov held a meeting with the Vice Governor of Henan Province, Mr. He Jinping, during which a Memorandum for Co-operation between the Ministry of Economy and the Henan Trade Department, that will lay the foundations for more active collaboration with the Chinese province, was signed. Henan is one of the largest Chinese provinces as well as one of the strongest economical centers with a population of over 100 million people. The Memorandum is a package deal and envisions co-operation and support in the creation of new and the expansion of already existing business contacts between Bulgaria and Henan province, promotion of co-operation between small and medium enterprises from Bulgaria and Henan, stimulation of enterprises’ participation in fairs, exhibitions, forums and symposia which are held on the territory of either Bulgaria or the Chinese province.