The President of the Board of the Bulgarian Industrial Association Dobri Mitrev met with the newly appointed Bulgarian Ambassador to the People's Republic of China based in Beijing - Andrey Tehov. The meeting was also attended by Hristina Kasparyan, Director of International Economic Relations Center at BIA.
In the past 2022, bilateral trade between the two countries reached 3.243 billion euros, an increase of nearly 20% compared to 2021. Trade balance for 2022 amounts to 2.421 billion euros. This is an increase of 2.4 times compared to 2021, when it was 996.4 million euros. Bulgaria's imports from China for 2022 amounted to 3.2 billion, an increase of 1.5 times, and Bulgaria's exports to China for the past year amounted to 788.4 million, a decrease of 1.4 times (about 30%) compared to 2021 (1.123 billion euros).
Bulgaria's exports to China are mainly pulp and other solid residues; copper ores and their concentrates; refined copper and copper alloys; corn; sunflower seeds; lead ores and their concentrates; electronic integrated circuits and copper waste and scrap. In the case of imported goods from China for the Bulgarian market, the following prevail: photovoltaic cells; wheelchair parts and accessories; air conditioning machines and apparatus; Animal, vegetable and microbial fats and oils; Lithium-ion electric batteries; printed circuit boards; toys on wheels; antibiotics; biodiesel and blends of biodiesel, etc.
"Bulgaria is the second country in the world to recognize the People's Republic of China, and I believe that Chinese business has not only not forgotten this, but also still has extremely warm feelings towards our country. Bulgaria is a sought-after partner, but there are great difficulties facing our exports to China. These difficulties are caused by the impossibility of implementing large volumes on our side, expensive transport, difficulties in logistics, regulations, even in the way of doing business, we have big differences", Dobri Mitrev said during the meeting. He informed that after a poll among the BIA members, the prevailing opinion of the enterprises is that trade relations with China are far from balanced due to objective political reasons. The representation of Bulgaria on the Chinese market is also far from optimal. Bulgaria's presence at major trade fairs in China should be completely reconsidered. For native companies, it is important to position ourselves on topics related to sectors such as green energy, electric cars, specific food products that can hardly be duplicated by China.
According to feedback from companies that have tried to enter the Chinese market, Chinese counterparties have demands that cannot be met - for example, for a company to send production data that is a trade secret. The cases in which Chinese counterparties have requested detailed documentation for the entire supply chain of the respective company are not unique either.
During the meeting, the need to restore the Office for Trade and Economic Affairs in China was also discussed, as well as the possibility of easing the mutual exchange of goods on the basis of the declaration signed in 2019 on the establishment of a strategic partnership between Bulgaria and China, under which the signatories the presidents Rumen Radev and Xi Jinping have passed away.
"My visit to BIA today was to inform myself about the views of the Bulgarian nationally representative employers' organizations before I leave for Beijing and to make sure that for you, as well as for me, it is most important that Bulgaria makes its own decisions dictated by an economic assessment, in favor of the Bulgarian economy, and always in search of balance. I see we are of one mind here. Although from different parts of the world, we will work for the same thing, and I hope for your active cooperation", said the newly appointed Bulgarian ambassador Andrey Tehov.
Andrey Tehov was appointed by Decree No. 42 as Ambassador Extraordinary and Plenipotentiary of the Republic of Bulgaria to the People's Republic of China with headquarters in Beijing. He has already led the missions of Bulgaria in Argentina, Uruguay, Chile, Paraguay and Bolivia
