site.btaDeputy Economy Minister Pavlov: There Are Untapped Opportunities for Expanding Bulgarian Exports to China

During a meeting with Deputy Mayor of Ningbo Municipality Xu Yanan held on Monday at the Economy Ministry, Deputy Minister of Economy and Industry Nikolay Pavlov said that efforts are being made to balance and increase bilateral trade between Bulgaria and China. In the first six months of 2024, total trade with China amounted to USD 1.7 billion, reported the line ministry. 

"There are untapped opportunities to expand Bulgarian exports to China and, more specifically, products that our country is known for in Asia. An example of this are 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 Association for Promotion of Agricultural Cooperation between China and Central and Eastern European countries (APACCCEEC) 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 CEE office in the city of Ningbo. "One of the main functions of the pavilion will be to provide information and guidance to manufacturers 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 stressed that it is important for Bulgaria to attract more Chinese investments in sectors in which this country has traditional advantages and those that provide high added value through the introduction of innovations and high competitiveness of the economy. "In 2023 and the beginning of 2024, interest in investing in Bulgaria was expressed by Chinese companies from various sectors," Pavlov pointed out.

Ningbo City 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 exhibition will be held in May 2025. It is the only national-level exhibition in China that is only oriented towards the countries of Central and Eastern Europe. The city seeks to expand Bulgarian imports to China, apart from familiar goods such as rose oil and various products from Bulgaria, Xu Yanan pointed out.