Trade relations between Bulgaria and China

Transcript:Trade relations between Bulgaria and China:
Trade relations between Bulgaria and China Bulgaria – China trade and investment relations 23.06.2023 Economic Research Institute at Bulgarian Academy of Sciences (ERI BAS) Bulgaria-China Trade Relations The development of trade and economic relations between Bulgaria and China are considered in the context of Bulgaria's membership in the European Union, and the fact that China is a EU strategic partner, as well as within the framework of the Cooperation Initiative between China and the countries of Central and Eastern Europe launched by the Chinese government in 2011, and the Belt and Road Initiative launched by Chinese President Xi Jinping in autumn 2013. (Now “14+1”). The EU is China's largest trading partner. China and the EU hold annual Summits. On December 30, 2020, the EU and China announced the conclusion in principle of negotiations on the EU-China Comprehensive Agreement on Investment (negotiations started in 2013). Main achievements of the book "Bulgaria-China trade and investment relations“ Have been revealed China economic and trade reforms carried out over the past 40 years, which have elevated China to the 2nd world economic power and a leading exporter of goods in the international trade market. Have been evaluated the trade relations of China with the main trading partners, the EU and the USA, as well as the contradictions and trade perspective between the trade partners with the rise of protectionism in the international trade and economic relations. The reasons for the weak growth of Bulgaria-China trade have been underlined, as well as the potential for trade between Bulgaria and China has been identified. Main achievements of the book "Bulgaria-China trade and investment relations“. On the basis of empirical data obtained from “field research”, real conclusions have been drawn about the investment activity of China in Bulgaria, and valuable scientific and practical recommendations have been given. Empirical research shows significant resilience of Chinese companies - despite various difficulties they show enviable flexibility and this gives a prospect for expanding their activity in Bulgaria. The experience of the first Chinese investors in Bulgaria, the failure of large projects and the passive Bulgarian state policy limit the possibilities of attracting new promising Chinese investments. The data shows that even the most skeptical European countries have more FDI from China, as a relative share of their total investment compared to Bulgaria. The potential for growth of FDI from China in Bulgaria is significant. The thesis is confirmed that with