NEWS

The Chinese government will continue to encourage businesses to invest in Bulgaria

Bulgaria hopes to host the next summit of the Secretariat of China on Co-operation with Central and Eastern Europe, and can organise it in the best way, President Rosen Plevneliev said at a meeting with Chinese Prime Minister Wen Jiabao. For Bulgaria, hosting the forum is an opportunity to begin an extensive program of co-operation with China at all levels, the President said, adding that Bulgaria is one of the CEE countries that has showed that they are dynamic and able to carry out reforms. Contacts at diplomatic level between the two countries will continue, Wen Jiabao said at his meeting with President Plevneliev before the official opening of the ninth summit of the Asia-Europe Meeting in Vientiane, Laos.

Full support, the best operating conditions and a low tax burden – these are what Bulgaria offers Chinese business. President Plevneliev also presented to the Chinese Premier the opportunities presented by Bulgaria’s new investment encouragement legislation. “We want to position Bulgaria in South Eastern Europe as a country for doing business, which offers a high level of education and training and better conditions in sectors such as energy efficiency, tourism, food production in the agricultural sector and motor vehicle production,” President Plevneliev said.

The Chinese Premier said that in times of economic and financial crisis, Bulgaria was manifesting a culture of stability, had managed to keep its market open and provide better conditions for investors. Hence, the Chinese government would continue to encourage businesses to take steps to invest in Bulgaria, Wen Jiabao said. He said that Bulgaria has a strategic position in the region and the serious measures that it has taken to encourage investments deserve high praise. “Between our two countries, there is trust, that can be used to develop relationships at all levels,” the Chinese Premier said. He said that the large growth of Bulgarian exports in recent years, Chinese investments in the motor vehicle industry and in renewable energy were very positive results. Bulgarian exports to the PRC amounted to $402 million in 2011, but in the first half of 2012 alone had reached $362 million.

Premier Wen Jiabao pointed out that Bulgaria had been one of the first countries to recognise the People's Republic. The two countries have always had friendly and equal relations, and Bulgaria has always respected the principle of “One China”, the Chinese Premier said at his meeting with President Plevneliev.