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Last updated at: (Beijing Time) Thursday, July 18, 2002

Bulgarian President Discusses Trade with Chinese Official

Opportunities to boost bilateral trade and economic relations and Chinese investment in Bulgaria topped the agenda of a meeting between President Georgi Purvanov and China's State Councilor Wu Yi Tuesday in Sofia, the President's Press Secretariat said.


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Opportunities to boost bilateral trade and economic relations and Chinese investment in Bulgaria topped the agenda of a meeting between President Georgi Purvanov and China's State Councilor Wu Yi Tuesday in Sofia, the President's Press Secretariat said.

Councilor Wu is leading a Chinese delegation on a visit to Bulgaria at the invitation of Deputy Prime Minister and Economy Minister Nikolay Vassilev.

Purvanov and Wu agreed that, although two-way trade and investment have increased over the last two years, their level is below the two countries' potential. They believe that an economic dimension should be added to the existing friendly political relations.

The two sides highly value political dialogue, particularly over the last few months. Purvanov reiterated Bulgaria regards China as a strategic partner in the 21st century.

Councilor Wu expressed appreciation for Bulgaria's stabilizing role in the region and the two countries' good interaction within the UN Security Council.

Purvanov and Wu agreed that the two governments should encourage private businesses to develop trade contacts and should provide adequate investment conditions.

The Chinese business community is interested in partnership with Bulgarian entrepreneurs for the production of television sets and air conditioners in this country, Wu said. She also mentioned tourism as one of the promising areas of bilateral cooperation.



China and Bulgaria
Bilateral relations: The diplomatic relations between the two countries were established on October 4, 1949.

In June, Premier Zhu Rongji paid an official visit to Bulgaria, where he held talks with Bulgarian Prime Minister Ivan Kostov and met with Bulgarian President Petar Stoyanov, National Assembly Chairman Iordan Sokolov, leaders of the parliamentary party groups and the mayor of Sofia Sofianski. During the visit, the two sides signed a series of Agreements on Cooperation.

Economic cooperation: The Sino-Bulgarian Mixed Committee of Economy, Trade and Science and Technology was established in 1985 and since then eight regular meetings have been convened.

The annual trade volumes between China and Bulgaria in the recent years are as follows:
Year Total Volume Chinese Import Chinese Export
1996 US$61.38 million US$33.92 million US$27.46 million
1997 US$47.97 million US$16.59 million US$31.38 million
1998 US$47.99 million US$2.80 million US$45.19 million
1999 US$62.66 million US$9.22 million US$53.44 million
2000 US$94.30 million US$13.47 million US$80.83 million




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