Bulgaria to Boost Exports of Medical, Pharmaceutical Products to China

Bulgaria's Deputy Minister of Economy and Energy Krasin Dimitrov, photo by BGNES

Bulgaria has the potential to boost exports of pharmaceutical and medical products to China, according to Deputy Minister of Economy and Energy Krasin Dimitrov.

Speaking Tuesday at the opening of a forum entitled "Bulgaria – China: Trade and Cooperation in the Sphere of Pharmaceutical and Medical Manufactures", he made clear that Chinese business representatives would have the opportunity to learn more about the advantages and qualities of these products during meetings with representatives of Bulgarian companies.

The forum takes place at the Bulgarian Chamber of Commerce and Industry, according to the press office of the Ministry of Economy and Energy.

Dimitrov noted that Bulgaria has made it a priority to broaden its economic relations with China.  He reminded that bilateral trade between the two countries had reached a record high of USD 1.8B in 2012.

He informed that the 88% growth in exports to China had made the country Bulgaria's second-biggest non-EU export destination after Turkey.

In his opening speech at the forum, Dimitrov outlined the advantages of the Bulgarian business climate, such as the unrestricted and duty-free access to EU markets and the opportunities for business contacts with other Member States.

He underscored that the low tax rates and operating expenses, combined with qualified labor force, gave Bulgaria a place among the most preferred investment destinations.

"I believe that there are good opportunities for developing Bulgarian-Chinese joint ventures in Bulgaria," Bulgaria's Deputy Economy and Energy Minister said.

"We will actively support all initiatives, which are geared towards a more productive relationship and cooperation among our two nations", Dimitrov stated.

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