site.btaChina’s Vice Minister of Commerce Ling Ji to BTA: China–Bulgaria Trade and Economic Cooperation Has Broad Prospects

Ling Ji, Vice Minister of Commerce of China and head of the Chinese government and business delegation that visited Bulgaria this week, described the visit as productive. In an interview with BTA, he said that trade and economic cooperation between China and Bulgaria rests on a solid foundation and has broad prospects. Ling Ji spoke to a BTA reporter immediately after the conclusion of the 18th session of the China–Bulgaria Intergovernmental Commission for Economic Cooperation, which took place on Tuesday in Sofia.

According to the Chinese government representative, the session opened excellent opportunities for trade cooperation between the two countries. He explained that the participants engaged in open discussions and exchanged views on a wide range of topics, including trade in agricultural products, investment cooperation, infrastructure development, energy partnership with a focus on renewable energy, tourism, and climate change.

In his view, there is considerable potential for economic cooperation between China and Bulgaria, particularly in the areas of trade—especially efforts to promote Bulgarian exports to the Chinese market, and also in investments, energy, infrastructure development, transport connectivity, and tourism.

Here follows the full text of the interview:

Q: What are the opportunities for strengthening economic relations between Bulgaria and China?

A: Trade and economic cooperation between China and Bulgaria has a solid foundation and broad prospects. At the recently concluded 18th session of the Intergovernmental Joint Commission for Economic Cooperation, the two countries exchanged views on a wide range of topics - trade in agricultural products, investment cooperation, infrastructure development, energy partnership (especially in the field of renewable energy), tourism, and climate change. Following the session, I believe there are excellent prospects for trade cooperation between China and Bulgaria.

I would like to express special thanks to the Ministry of Economy and Industry and the Bulgarian Chamber of Commerce and Industry for organizing the Bulgaria–China business forum for companies from both countries. During the forum, Chinese and Bulgarian businesses identified new areas for cooperation, including artificial intelligence, cloud technologies, and the digital economy. I discussed these opportunities with Minister Dilov during the session.

Q: In which sectors is there potential for economic cooperation?

A: First and foremost, we can develop bilateral trade. Since the establishment of the strategic partnership between China and Bulgaria, the average annual growth of bilateral trade has been 8.5%. Last year, bilateral trade reached USD 4.1 billion, and in the first seven months of this year, it amounted to 2.54 billion dollars.

Although there is a certain trade imbalance between China and Bulgaria, China is ready to import more high-quality Bulgarian products. That is why I proposed, during the session, the signing of a Memorandum of Understanding in the field of e-commerce. This will speed up the entry of Bulgarian goods into the Chinese market. We can assist Bulgarian companies in setting up a “national pavilion” on leading Chinese e-commerce platforms, which would provide faster access for Bulgarian products to China.

Secondly, I would highlight cooperation in the field of investments. The two sides have agreed on a Memorandum of Understanding to establish a working group on investment cooperation, which is expected to be signed soon. China is ready to increase its investments in Bulgaria in sectors such as renewable energy, solar and wind, and in the area of electric vehicles, including assembly and manufacturing in Bulgaria.

We also support the participation of Chinese companies in infrastructure development in Bulgaria, including the construction of highway roads.

During the session, the Bulgarian side also presented their industrial zones. With the support of the Chinese Embassy in Bulgaria, some Chinese companies have already visited these zones, and I believe they will show interest.

The two governments also agreed to sign an Agreement on International Freight Transport, and both countries are expected to sign a Memorandum of Understanding. We are also interested in deepening cooperation on the Trans-Caspian International Transport Corridor, as Bulgaria is the first country along the route connecting Asia and Europe.

Tourism was another topic discussed at the meeting. Currently, more Bulgarian tourists visit China than Chinese tourists visit Bulgaria. I proposed to the relevant Bulgarian institutions to promote their tourism resources and destinations on the Chinese market.

Q: How will the Intergovernmental Joint Commission and the business forum held on Monday contribute to the development of bilateral economic relations?

A: Yesterday’s business forum and today’s session of the Intergovernmental Joint Commission were held after a long pause of several years. After the forum, individual Chinese companies shared with me their strong interest in cooperating with Bulgarian partners and vice versa. It’s a two-way process.

The talks during the session were frank. We took stock of the current state of cooperation and raised concrete issues. I am confident that the forum and the commission will further strengthen our business collaboration. I believe these two platforms are excellent channels for businesses and governments to get to know each other, clear up misunderstandings, overcome differences, and reach agreements.

A key highlight of yesterday’s meetings was the delegation’s audience with President Rumen Radev, together with representatives of Chinese businesses. The President shared valuable information and ideas with Chinese companies about doing business in Bulgaria, which further strengthened the trust of the Chinese business community in investing in the Bulgarian market.

The Chinese delegation, both governmental and business, considers the visit to Bulgaria to have been productive. Of course, there is still a great deal of work to be done ahead of the next session of the Intergovernmental Joint Commission, which will be held in Beijing.

Q: What companies were represented in the business delegation and participated in yesterday’s business forum?

A: The delegation included companies from various sectors, leading firms in infrastructure construction with significant projects across Europe; world-leading manufacturers of batteries for electric vehicles; several producers of electric cars; Chinese financial institutions; and also companies from the information technology (IT) and telecommunications sectors.

Q: How would you assess your cooperation with Bulgaria’s Ministry of Economy and Industry in organizing the session and business forum?

A: I believe the Ministry of Economy and Industry is an extremely efficient and pragmatic institution. The decision to hold the business forum was made just a month ago, and within this short time frame, the Ministry managed to organize the participation of so many Chinese and Bulgarian companies. This deserves high praise.

I also saw strong representation from various state institutions at today’s session of the Commission. This shows the Ministry's capacity for coordination and also speaks to the authority the institution holds among these government agencies.

I appreciate the open and practical approach of Minister Dilov, and the professionalism of the Ministry’s staff.

China’s Ministry of Commerce will work in close cooperation with Bulgaria’s Ministry of Economy and Industry to implement the agreements reached and to further develop the trade and economic cooperation between our two countries.