The head of state: China is a strategic partner of Bulgaria and our countries have significant potential for cooperation

In recent years, China has established itself as a strategic partner of Bulgaria, and we treat with great respect its thousand-year history, culture, traditions and the impressive economic and scientific and technical development of the country in recent years. This was stated by President Rumen Radev during the opening of a trade exhibition of leading Chinese companies, leaders in the fields of technology, innovation, digitalization, banking, logistics, transport and energy. The forum is part of the events in our country on the occasion of the 75th anniversary of the establishment of diplomatic relations between Bulgaria and China and aims to promote bilateral cooperation in the field of investments. Before the opening of the exhibition, the head of state held a meeting with representatives of Chinese companies participating in the forum. The ambassador of the People's Republic of China to our country, Dai Qingli, also took part in the meeting.

The head of state highlighted the significant potential of cooperation between Bulgaria and China and shared that in the conversation with Ambassador Dai Qingli at the presentation of her credentials, the two reached a common belief about the organization of the business forum. Rumen Radev congratulated the ambassador on the scale and scope of the event, organized in a short period of time, sharing his expectations that it will contribute to the deepening and expansion of cooperation between Bulgaria and China and give practical dimensions to the joint declaration of strategic partnership signed on - high level during the visit of the Bulgarian head of state to China in 2019. President Radev recalled the ambition he expressed to President Xi Jinping at the time to open a branch of a Chinese bank in Bulgaria, which would contribute to the activation of business relations and be guarantor of their stability. Rumen Radev also highlighted the prospects of opening a direct airline between Beijing and Sofia, which would promote communication between business and tourism.

As a prerequisite for the development of industrial cooperation in the field of automobile construction, the president singled out the high-tech plant for aluminum car parts in the "Thrace Economic Zone" that started operating in June. Bulgaria has more than 350 companies in the automotive sector and over 80,000 employees, which represents 11% of GDP. "There is no longer a car produced in Europe that does not use components produced in Bulgaria," the president pointed out. The head of state also expressed satisfaction with the fact that in recent years there has been a significant growth in trade between Bulgaria and China - in 2015, the trade between the two countries was about 1.7 billion US dollars, and in 2023, it will amount to about 4 billion US dollars.

The President pointed out the advantages of Bulgaria attracting investments as one of the centers in Eastern Europe for the development of information and communication technologies and robotics, as well as the favorable macroeconomic conditions and tax policy - 10% corporate tax, with an average of 20.9% in the EU, the low personal income tax of 10%, and in 152 municipalities with high unemployment there is a zero percent profit tax for investments. "Bulgaria competes with great China, Russia and the USA at the world Olympiads in mathematics, linguistics, information technology and wins prizes, which is an indicator of our capabilities", Rumen Radev pointed out, highlighting the huge potential of young people in our country and the high quality of Bulgarian education.

The head of state also emphasized that our country is first in Europe in terms of the percentage of its territory suitable for organic farming and highlighted the prospects of partnership in the field of agriculture and the increase of Bulgarian exports of agricultural products to China. The President also expressed his expectation that export procedures will be eased, especially for agricultural products, which will contribute to expanding the market positions of our country in China. In his welcome to the forum, Rumen Radev also drew attention to the advantages and potential of Bulgaria in the field of energy and transport connectivity and the strategic location of our country as a key factor for the sustainable development of trade and economic cooperation.