From Innovations to Agriculture and Light Industry: New Horizons for Cooperation Between Bulgaria and China

∙ Sofia held a promotional event to present the opportunities for economic cooperation with the Chinese city of Yinchuan.    

∙ Signing Cooperation agreements between Bulgarian and Chinese organisations and companies

∙ Tasting traditional Chinese products

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At the initiative of the Municipal Committee on Foreign Affairs and the Trade Office of the city of Yinchuan (China), a promotional event was held to present the opportunities for economic cooperation between Bulgaria and Yinchuan City. The Bulgarian Chamber of Commerce and Industry (BCCI) was a partner of the Forum which brought together over 100 representatives of institutions, organisations and companies from Bulgaria and China.

The Chinese Delegation, led by Mr. Zhao, Secretary of CPC Yinchuan Municipal Committee, included representatives of the local administration and of companies from the sectors of wine production, cultural tourism and the food and beverage industry. The city of Yinchuan, an administrative centre of the Ningxia Hui Autonomous Region, is an important economic and commercial hub in Northwest China with a rich historical and cultural heritage.

The Forum was officially opened by H.E. Ms Dai Qingli, Ambassador of the People’s Republic of China in Bulgaria. Her words of welcome highlighted the dynamic development of the bilateral relations and she pointed out that Bulgaria’s accession to the Schengen area and the Eurozone opens up new opportunities for Chinese goods to access the European market. The Ambassador expressed confidence that the sectors represented by the Yinchuan Delegation — agriculture and light industry — offer good prospects for mutually beneficial cooperation.

Dr Vasil Todorov, Vice President of BCCI, underlined the long-standing successful partnership between Bulgaria and China, the Chamber’s active cooperation with Chinese partners and the Chinese Embassy in Sofia, as well as the joint initiatives and training sessions organised in recent years. He presented the advantages of Bulgaria as an investment destination, including its membership in the Eurozone and the Schengen Area, its stable macroeconomic environment and competitive tax policy. Mr Todorov expressed his confidence that the Forum will contribute to creating new business partnerships, making investments and strengthening the economic ties between Bulgaria and China.

In his speech, Zhao Xuhui presented the economic potential of the Ningxia Hui Autonomous Region and the city of Yinchuan, and put an emphasis on the leading industries, namely new materials, modern technologies, production of dairy products, cashmere and winemaking. He pointed out that Bulgaria and China possess advantages which complement each other and create excellent prerequisites for increasing the bilateral cooperation between these two countries.

During the Forum, the city of Lingwu was also presented, as well as the leading viticulture and winemaking region in Ningxia. Special attention was paid to the opportunities for cooperation in the fields of viticulture, winemaking, the food and beverage industry, as well as tourism.

Several Cooperation agreements were signed between Bulgarian and Chinese organisations and companies during the event. The Forum ended with a tasting of traditional Chinese products, including wines and goji berries, as well as with business meetings between representatives of the companies from both countries.