Bulgaria, China agree on joint economic projects on Silk Road

Bulgaria, China agree on joint economic projects on Silk Road

Sofia, November 27, 2015/Independent Balkan News Agency

By Clive Leviev-Sawyer of The Sofia Globe

A memorandum of understanding between Bulgaria and China was signed by Bulgarian Foreign Minister Daniel Mitov and his counterpart Wang Yi on November 26, aimed at developing policies on trade, agriculture, investment, people-to-people contacts and links between local authorities.

The memorandum envisages the countries jointly developing economic projects on the Silk Road.

The strategic geographical position of Bulgaria near the border between Europe and Asia allows it to play an important role in building new Eurasian transport corridors, a Bulgarian government media statement said.

Bulgaria backs the One Belt, One Road initiative for building a new Silk Road in its two aspects – the Silk Road Economic Belt and the Maritime Silk Road.

Wang Yi has said that China views Bulgaria as the European Union’s gateway to Asia. He and Mitov agreed on boosting trade and economic relations between the two countries including projects that are part of the strategic EU-China co-operation.

The memorandum was signed in the presence of Bulgarian Prime Minister Boiko Borissov, who led the Bulgarian government delegation visit to China from November 22 to 27, and Chinese premier Li Keqiang

“China is Bulgaria’s principal partner in Asia, and we believe that there is a wide range of possibilities to broaden and deepen bilateral cooperation,” Borissov said.

Borissov is visiting China together with several ministers from November 22 to 27.

Borissov said that China ranks among Bulgaria’s top export markets in both Asia and globally.

“Our priorities include increasing Chinese investments in Bulgaria, boosting Bulgarian exports to China and tourist exchange,” Borissov said, calling on China to expedite export procedures for Bulgarian agricultural and food products to China.

Also on November 26, Bulgaria’s Transport, IT and Communications Minister Ivailo Moskovski and Regional Development and Public Works Minister Liliyana Pavlova, and Chinese Transport Minister Yang Chuantang agreed on the establishment of a joint programme for infrastructural projects, Moskovski’s ministry said in a media statement.