Bulgaria Surpasses Poland in Trade with China, Says Chinese Ambassador

Bilateral Trade on the Rise

Bulgaria's trade with China has significantly increased in recent years, surpassing that of Poland, according to Chinese Ambassador to Bulgaria Zhang Haichao.

In 2022, the total trade volume between Bulgaria and China reached $4.4 billion, a 20% increase from the previous year. This growth was largely driven by increased exports from Bulgaria to China, which amounted to $1.6 billion, a 30% increase year-on-year.

Major Bulgarian exports to China include agricultural products, machinery, and electronics. China, on the other hand, exports a wide range of goods to Bulgaria, including electronics, machinery, and textiles.

Deepening Economic Ties

The increase in trade between Bulgaria and China reflects the deepening economic ties between the two countries. China has been actively investing in infrastructure projects in Bulgaria, such as the construction of a new highway connecting Sofia to the Black Sea port of Varna.

Bulgaria has also become an important destination for Chinese tourists, with the number of Chinese visitors to Bulgaria increasing by over 50% in 2022.

Opportunities for Cooperation

Ambassador Zhang Haichao highlighted the potential for further cooperation between Bulgaria and China in various sectors, including trade, investment, and tourism. He noted that the two countries could work together to promote economic growth and prosperity in both countries.

Bulgaria and China have also established a joint economic commission to explore areas of mutual cooperation and identify potential projects for investment and collaboration.

Conclusion

The growth in trade between Bulgaria and China is a testament to the strong economic ties between the two countries. As both countries continue to deepen their cooperation, there is great potential for further economic growth and prosperity in both Bulgaria and China.