Bulgarian, Chinese officials discuss expanding technology, economic cooperation

SOFIA — Officials between China and Bulgaria have met to discuss cooperation expansion between the two sides on economy, trade and technology, Bulgaria's Ministry of Economy said in a statement on Thursday.

The meeting held between Bulgaria's Minister of Economy Emil Karanikolov and Chinese Ambassador to the Balkan country Zhang Haizhou discussed possibilities for the participation of Chinese high-tech companies in Sofia Tech Park, the first state-owned science and technology park in Bulgaria.

Sofia Tech Park could provide good conditions for Chinese companies and institutes, who are planning to expand their research and development centers in Europe, the statement quoted the minister as saying.

Chinese high-tech companies could set up their own or joint laboratories for research and innovation, as well as demonstration areas, added Karanikolov.

Ambassador Zhang said in turn that China was currently pushing technology parks to create incubators in Bulgaria, according to the statement.

The meeting also discussed options for strengthening bilateral economic and trade cooperation, the statement said.

On Trade, the Chinese ambassador said that Bulgaria should increase its exports to China to achieve trade balance between the two countries.

"The Chinese side attaches great importance to Bulgarian agricultural products," the ambassador noted.

Bulgarian exports to China grew from $78 million in 2006 to nearly $480 million in 2016, the statement said. Meanwhile, imports from China to Bulgaria amounted to $961 million in 2006, and $1.149 billion in 2016, it added.