site.btaBulgarian Government Supports Any Initiatives to Boost Economic Relations with China

Sofia, August 25 (BTA) - Bulgaria's Deputy Economy and Energy Minister Irena Mladenova said on Monday that her government places much importance on expanding trade and industrial relations with China and will support any initiatives to this end.

Addressing a Bulgaria-China business forum in Sofia, Mladenova also said that Bulgaria offers the lowest taxes and the lowest operating costs in Europe, as well as a highly qualified and productive workforce, which is appreciated by foreign investors. She expressed her confidence that more Chinese companies will avail themselves of the advantages of investing in the Bulgarian economy.

The Bulgaria-China business forum was organized by the Bulgarian Economy and Energy Ministry, the Chinese Embassy in Sofia, the Bulgarian Small and Medium Enterprises Promotion Agency, and the Foreign Trade and Economic Cooperation Department of the southeastern Chinese province of Fujian.

Mladenova went on to say that the Bulgarian government will support the companies of Fujian Province which want to invest here, targeting sectors of mutual interest, such as mechanical engineering, the automotive industry, electronics, electrical engineering, information and communication technology, chemicals, pharmaceuticals, agriculture and food.

The Bulgarian Economy and Energy Ministry has observed a steady increase in trade with China. Bulgarian exports to the Far Eastern country have risen, making China the second most important export destination for Bulgaria after the EU. Bilateral trade hit a record 1.9 billion US dollars in 2013. The upward trend continues, but the level is still below the potential of the two countries, Mladenova said.

She noted that it is particularly important that China continue relaxing the procedures for importing farm products and food from Bulgaria. Bulgarian products which can be marketed more extensively in China include wine, bottled water, products based on rose oil and other essential oils, machinery, electronics and electrical engineering products, the Minister said.