China-Bulgaria production capacity cooperation forum held in Sofia

A 30-member Chinese delegation and representatives of over 100 Bulgarian companies participated in a bilateral production capacity cooperation forum here on Thursday.

Bojidar Loukarsky, Bulgaria's economy minister, said at the opening ceremony the event showed the desire for more dynamic bilateral dialogue and wider development of trade and economic cooperation between Bulgaria and China.

The minister said China was a priority partner for Bulgaria, and Bulgaria could become a platform for Chinese businesses and goods to the European Union (EU).

Over the past decade, Bulgaria's exports to China grew almost eightfold, and China is among its top ten export partners worldwide, Loukarsky said.

Meanwhile, Bulgaria has the potential to attract investment and provide opportunities in many industries such as electronics, information and communication technology, engineering, agriculture and food production, he said.

Lyu Xinhua, head of the Chinese delegation and chairman of the Council for Promoting South-South Cooperation, said in turn that after China's opening to the world, its economy had been growing rapidly and had a huge investment potential.

According to him, investment conditions in Bulgaria were relatively good, due to political and social stability in the country.

He said he hoped Chinese businesses would realize the opportunities to be had in Bulgaria with relatively cheap labor and numerous tax benefits.

Chinese Ambassador to Bulgaria Zhang Haizhou said in recent years there had been an upward trend in bilateral trade and economic exchanges.

The Chinese delegation in this particular business forum included representatives from 15 powerful companies with strong interest in international cooperation and a desire to hold concrete talks with Bulgarian business on opportunities for joint projects in industrial capacity, Zhang said.

Just after the opening ceremony, the head of the Chinese delegation said at a media briefing that China could invest in Bulgaria in infrastructure construction, because there was no other country in the world that could compete with China in terms of timing of construction, cost, technology and efficiency.

Furthermore, due to the country's large foreign exchange reserves, the Chinese government may provide financial support for investment abroad, Lyu said.

(APD)