site.btaValentin Katranjiev, Diplomatic Institute: Expectations for Bulgarian-Chinese Business Relations are Positive

Dr. Valentin Katranjiev from the Diplomatic Institute at the Foreign Ministry said Monday that expectations for the development of Bulgarian-Chinese business and economic contacts are positive and hold great and real prospects for broad development. Bilateral contacts are on a permanent basis and at the same time are completely pragmatic. Katranjiev was the moderator of the Bulgarian-Chinese Business Forum held in Sofia on Monday. The event was organized by the Centre for the Promotion of Agricultural Cooperation between China and the Central and Eastern European Countries (CPAC China-CEE).

The forum, as  Katranjiev pointed out, is being held in the year of the 75th anniversary of the establishment of diplomatic relations between Bulgaria and China. In addition, Bulgaria was the second country in the world to recognize the People's Republic of China four days after its founding, on October 4, 1949.

Katranjiev also noted that relations between Bulgaria and China are based on the principles of equality, reciprocity, mutual respect for the foreign policy orientation of both countries. And since 2019, relations have been upgraded to a strategic partnership, which, according to him, is an indisputable success.He also stressed that that there are no controversial, unresolved issues between the two countries.

The forum indicated that efforts are expected to be directed towards expanding and deepening contacts in the industrial field as well.  Katranjiev defined the prospects for expanding cultural, educational, scientific-research and technological exchange between the two countries as favourable.

He also outlined other areas of mutual interest for deepening cooperation: agriculture (with an emphasis on organic agriculture); the food industry; implementation of projects in the automotive industry, in the field of green and information technology solutions and tourism. 

"However, for the development of tourist exchange, it is necessary to open direct air routes between leading Chinese cities and Bulgarian ones. The possibilities are currently being explored," Katranjiev informed. He added that the still unexplored opportunities in the field of transport and logistics infrastructure should not be underestimated, and that Bulgaria should be more actively involved in the The Belt and Road Initiative,  ensuring the connectivity of Europe and Asia.

Katranjiev also presented up-to-date information on Bulgaria's trade relations with China, which show constant growth and reach EUR 3.2 billion per year.

"It seems to me that the Bulgarian side should work to increase Bulgarian exports to the Chinese market, because we are registering a significant deficit in bilateral trade," he recommended.