Bulgaria Starts Economic Cooperation with Second Key Chinese Province - Jiangsu

Bulgaria's government has signed an economic cooperation memorandum with a second Chinese provice, Jiangsu, after establishing close ties with Zhejiang in 2010.

The document aimed at boosting the trade and investment ties between Bulgaria and one of China's richest and most developed provinces Jiangsu was signed in Sofia on Thursday between Bulgarian Deputy Economy Minister Evgeni Angelov and the Director General of the Jiangsu Department of Commerce Zhu Min.

On June 15, 2010, Bulgarian Economy Minister Traicho Traikov signed a similar agreement with the Department of Commerce of the Zhejiang province seen as a breakthrough in the economic relations between Bulgaria and China. The governments of Bulgaria and Zhejiang are currently moving ahead with a project for a large-scale joint industrial zone in Bozhurishte near Sofia.

"We are assisting for the arrival of more Chinese companies and investments in Bulgaria at every single step, for example with respect to investments in Bulgarian industrial zones," stated Deputy Minister Angelov during the signing ceremony, as cited by the press service of the Economy Ministry.

Jiangsu Commerce Department head Zhu Min is quoted as saying that the conditions and incentives offered in the Bulgarian industrial zones are better than in many industrial zones in China, which is set to make Bulgaria's industrial options internationally competitive.

The delegation of China's Jiangsu province is in Bulgaria on three-day visit, and includes both provincial government officials and representatives of Chinese companies working in energy automation, IT, optics, photovoltaics, among others.