A new trade initiative has been brokered between the Bulgarian Chamber of Commerce and the Chinese ministry of trade. The Chinese ministry has tabled a plan to encourage Bulgarian firms to enter the Chinese market and increase the exports to China. They would like to see a bigger Bulgarian presence on their market as well as partnerships being forged between Bulgarian and Chinese firms, according to National Radio Darik.

Beijing International Brand Management Centre is encouraging the import of high quality manufactured goods from Bulgaria. The list of imports ranges widely and includes building material, biomedicine, transport machinery and equipment, computers, raw materials and specialised equipment. Bulgaria is one of a number of eastern and central European countries that are expected to participate.

A particular interest to China are foodstuffs, drinks, textiles and clothing, cosmetics, sports equipment, transport equipment, furniture, toys and jewellery.

Stroitelstvo.bg reports that once Bulgarian companies need to first complete their registration to trade with China through the www.oncn.org website. It must send a presentation and a portfolio, and Chinese guarantee to respond within 20 days and offer a contract if the bid is acceptable. As part of the contract, Bulgaria will be guaranteed free promotion of their exports, advertising goods and the services of Bulgarian firms in the Chinese marketplace. Furthermore, the Chinese will provide technical, practical and logistical advice, handle risk management issues and provide investment information to companies across China.

The Bulgarian Chamber of Commerce in turn wants to attract additional investment from China and bring more Chinese companies here. The proposals presented by potential Chinese investors must be in English, the sum of investment and details of the project.