Bulgaria Eyes Further Rise in Exports to ChinaBusiness | August 25, 2014, Monday // 13:14| views
Caretaker Deputy Economy Minister Irena Mladenova (2nd L) welcomes Chinese delegation to a Bulgarian-Chinese business forum in Sofia, August 25, 2014. Photo BGNES
China is now the second largest destination for Bulgarian exports after the EU but there are still untapped trade opportunities, a Bulgarian official has said.
Bilateral trade turnover totalled record high USD 1.9 B last year, caretaker Deputy Economy Minister Irena Mladenova said on Monday at a business conference in Sofia that has brought together companies from Bulgaria and China’s Fujian Province.
According to figures from the National Statistical Institute, Bulgaria ran a deficit of BGN 312.1 M in trade with China in the first half of this year, compared with a gap of BGN 230.5 M in the equivalent period of 2013.
Bulgaria exports to China mainly copper ore and concentrates, refined copper and copper alloys, various instruments and electric distribution devices. Bulgarian imports from China include air conditioners, computers and lighting devices.
While trade between Bulgaria and China has continued to increase, its volume is still well below potential capacity, Mladenova said.
According to her, there are Bulgarian export items which can find a permanent niche in China, a market of 1.3 billion people. These include wine, mineral water and rose attar, among others.