Photo: Bulgarian Ministry of Economy, Investments and Industry
The Bulgarian Ministry of Economy, Investments and Industry signed a memorandum of understanding with the Chinese Ministry of Commerce on Friday during a visit to China by a Bulgarian delegation led by Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Poulev, his ministry said in a press release. Poulev and China's Commerce Minister Wang Wentao affixed their signatures to the document during a meeting in Beijing.
The memorandum provides for the establishment of a joint working group on investment cooperation, which will support the development of economic and investment relations between the two countries, with a focus on the automotive sector and energy.
The document also envisages the establishment of a mechanism for regular communication and exchange of information on legislation, regulations and policies in the field of investment. The future working group will facilitate the exchange of information on investment projects and opportunities in Bulgaria and China and discussions on issues of mutual interest. Cooperation between the two countries will be carried out in compliance with EU and national legislation.
As Co-chair of the Bulgaria-China Economic Commission, Deputy PM Poulev is taking part in discussions on bilateral cooperation between Bulgaria and China and opportunities to expand partnership in areas including investment, trade, innovation and digital transformation, transport, energy, agriculture, the environment, tourism and culture.
At his meeting with Wang, Poulev said that Bulgaria is taking a pragmatic approach to developing its economic relations with China and sees deeper investment cooperation as an opportunity to modernize and increase the competitiveness of the Bulgarian economy, the press release said.
The guest stressed that Bulgaria, as a full member of the European Union, must follow global economic trends and make use of opportunities to diversify its economy.
He presented the potential for using public-private partnerships as a tool for attracting private capital and implementing infrastructure projects in Bulgaria. "We are creating an entirely new framework for attracting public-private partnerships. We want to use this model for international economic cooperation and mobilizing private capital. Investors can play an active role in upgrading our infrastructure," the Deputy PM said.
Poulev's China visit, September 7-11
The official Bulgarian delegation to China, led by Deputy Prime Minister and Minister of Economy, Investments and Industry Alexander Poulev, has also included Tourism Minister Ilin Dimitrov, deputy ministers of economy, agriculture, energy, and regional development, and the executive directors of the InvestBulgaria Agency, the Bulgarian Small and Medium Enterprises Promotion Agency and the National Industrial Zones Company.
On September 7, Poulev and Bulgarian businesspeople took part in the China International Fair for Investment and Trade in the southeastern port city of Xiamen. While in Xiamen, the Deputy PM held talks with the government of Fujian Province.
On September 8, Poulev met with Chinese Vice President Han Zheng in Xiamen, where they discussed possibilities to expand trade and investment between Bulgaria and China
On September 10 in Beijing, Poulev met with Chinese Vice Premier Ding Xuexiang, while Tourism Minister Ilin Dimitrov talked with Chinese Minister of Culture and Tourism Sun Yeli.
On September 11, the Bulgaria-China Intergovernmental Mixed Commission for Economic Cooperation held its 19th session in Beijing, with Deputy PM Poulev co-chairing the meeting. Poulev and Chinese Minister of Commerce Wang Wentao signed a memorandum on investment cooperation.