Bulgaria Saw Significant Growth in Exports to China 2011

Ivo Marinov, Bulgaria's Deputy Minister of Economy, Energy and Tourism. File photo by novini.bg

Bulgaria's exports to China increased by 61% year on year in 2011, according to Ivo Marinov, Bulgaria's Deputy Minister of Economy, Energy and Tourism.

The two countries'total trade turnover stood at USD 1.346 B in 2011, with Bulgaria's exports reaching USD 403 M.

The trade turnover between Bulgaria and Chine grew by 55% in the first five months of 2012, reaching approximately USD 800 M.

Bulgaria views Chinese investments as increasingly important, Marinov declared on Friday.

Addressing representatives of Chinese companies, he pointed out that the Balkan country has EU's lowest taxes and has been working towards reducing the administrative burden for the business.

A memorandum of understanding on economic cooperation was signed between the Bulgarian Economic Ministry and the Department of Foreign Trade and Economic Cooperation of Guangdong Province.

Later on Friday, the Chinese business delegation will meet with representatives of the Invest Bulgaria Agency, the National Company Industrial Zones and the Executive Agency for Promotion of Small and Medium-sized Enterprises.

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