The Bulgarian business has a lasting interest in the vast Chinese market and is constantly looking for growth opportunities. This is the reason why China has traditionally held a leading spot in the list of Bulgaria’s trading partners outside the EU.
This article aims at giving you initial information for the opportunities and concrete steps for taking up business contacts with Chinese partners.
In the period January-March 2017, Bulgaria’s export to countries outside the EU increased by more than 20% YOY to BGN 4.243 billion. Bulgaria’s main exporting destinations were Turkey, China, Egypt, Serbia, Macedonia and Russia, which accounted for almost 53% of exports outside the EU. Electronics, electrical engineering and machinery products, metals and plastic products increased their share.
In recent years, China has made a number of reforms and launched regular initiatives to attract investment partners from Europe after EU investment in the Asian country had been declining for two years in a row.
Such a step is the 16+1 initiative, which aims to develop the economic, political and cultural exchange between Central and Eastern Europe (CEE) and China through a series of meetings between heads of state and government, business forums and other events dedicated to topics such as tourism, education, agriculture, energy and infrastructure. China has a strong motive for stabilizing the partnership with Europe also because of the volatile tone of the relations with the United States.
Where to do your first research and make contacts
Information sources and facilitation services for business cooperation with Chinese partners are offered by:
- Association for the Promotion of Agricultural Cooperation between China and the CEE Countries (APAC between China and CEEC). The Association is part of the Ministry of Agriculture and Food of Republic of Bulgaria In addition to news, data and events, you will also find a section on the site of the organization with partnership offers by Chinese to Bulgarian companies and from Bulgarian producers to potential buyers on the Chinese market.
- The EU Small and Medium Enterprises Center – helping European SMEs prepare for the Chinese market. The Center offers a wide range of support services to SMEs that want to export to China or invest there, including business advice, technical assistance, market research, training seminars, networking, and more. The Center also engages in advocacy and initiates discussions at European level to promote the business interests of SMEs. http://www.eusmecentre.org.cn
- Bulgarian-Chinese Chamber of Commerce and Industry – http://www.bulgariachina.com/bg/
