Foreign and Military Affairs

Bulgaria welcomes Chinese investment: official

(Xinhua)
Updated: 2010-10-12 11:28

SOFIA - Bulgaria invites Chinese investment as the country offers the lowest taxes within the European Union, a senior Bulgarian official said Monday.

Chinese companies were interested in investing in a wide rage of fields in the country, such as electronics, infrastructure, energy, agriculture, engineering, and construction materials, Traicho Traikov, Economy, Energy, and Tourism Minister of Bulgaria, told a China-Bulgaria business forum.

Wan Jifei, chairman of China Council for the Promotion of International Trade, said the two economies are complementary in many areas.

He said Bulgaria would be a gateway for Chinese enterprises to enter the European market, expressing his belief in bilateral cooperation in renewable energy resources and energetics.

Meanwhile, Wan called for a further promotion of Bulgarian products in China, saying Bulgarian rose oil, cheese, and wines would be available in Chinese shopping malls.

In October 2009, Chinese Vice President Xi Jinping signed a deal to import Bulgarian products worth $900 million, said Wan, adding bilateral trade from January to August this year reached $653 million, an increase of 35.9 percent over the same period last year.

In September, Bulgarian Prime Minister Boyko Borissov met with Chinese Premier Wen Jiabao in Beijing. Wen said China is ready to work with Bulgaria for a balanced and stable growth of bilateral trade, to expand mutual investment, and to strengthen mutual exchanges in culture, education, and tourism.