The intention to strategically expand economic partnerships with countries in the Middle and Far East is the primary motive behind Alexander Pulev's upcoming visit to China. The Deputy Prime Minister and Minister of Economy, Investments and Industry will lead the official Bulgarian delegation during the Nineteenth Session of the Bulgaria-China Intergovernmental Joint Commission for Economic Cooperation, which will be held in Beijing.
"We continue to prioritize work with all our Euro-Atlantic partners. At the same time, we must utilize Bulgaria's full potential as a full member of the EU and the eurozone and diversify economic cooperation with countries from the Middle and Far East whenever it is in the interest of the Bulgarian economy and consumers," Pulev emphasized. He added that activating joint commissions and strengthening economic dialogue with partners in Asia is a tangible instrument for attracting new investments.
In his capacity as chair of the Bulgarian side of the commission, Alexander Pulev will participate in an analysis of bilateral relations covering a wide range of areas:
- Trade, innovation and digital transformation;
- Energy and transport;
- Agriculture, food and social policy;
- Tourism, culture, environment and water.
"Following the Eighteenth Session held in Sofia last year, we are now continuing the conversation in Beijing with a specific focus on industrial cooperation, the automotive industry, decarbonization and green technologies," the Deputy Prime Minister stated. The special focus on the automotive sector is driven by its structural role for Bulgaria, as it accounts for over 10% of the GDP. The industry supports a developed ecosystem of over 380 companies and 38 R&D centers, providing jobs for approximately 85,000 people.
According to Pulev, adapting to the dynamic global environment is critical, as "if the sector does not adapt to the changing global environment, it risks becoming the next problem area for the Bulgarian economy. We will not allow that to happen." The Minister is convinced that new technologies, production, and investments can be attracted to open up opportunities for Bulgarian companies within the automotive ecosystem. At the end of his program, the Deputy Prime Minister will also take part in the opening of the China International Fair for Investment and Trade in Xiamen, which will also be attended by a Bulgarian business delegation.