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Bulgaria in search of Chinese partners for joint venture formation to produce locomotives

During the 15th session of the Bulgarian-Chinese intergovernmental joint commission for economic cooperation, the Bulgarian delegation expressed interest in attracting Chinese partners to establish a joint venture in Bulgaria for the production and assembling of carriages and locomotives. The products of this JV could be marketed not only in Bulgaria,  but also in the neighboring countries and the European Union.

The possibility to construct and rehabilitate the high-speed rail line Kulata – Lom as a significant European transport corridor was emphasized. Chinese companies can partner with Bulgarian companies and invest in Bulgaria for the manufacture of Chinese compact multipurpose tractors. At the meeting were also presented possibilities for cooperation between Bulgaria and China in strategic projects, where Chinese companies could invest e.g. reconstruction of the railway line Russe – Varna.

“China is a primary strategic partner for Bulgaria in Asia. The country is now ranked second after Turkey among the export destinations outside the European Union. In 2013, the trade between Bulgaria and China reached USD 1.884 billion, marking an increase of 8.4 % compared to 2012. Thus, the desire of our country is more tangible presence in the Chinese market with traditional Bulgarian products well-known at the markets in Asia, as Bulgarian wines, mineral water, essential oils, especially rose oil; as well as to increase our mutual cooperation in terms of mechanical engineering, electronics and electrical engineering”, stated Krasin Dimitrov, Deputy Minister of Economy and Energy and a head of the Bulgarian delegation at the meeting in Beijing.

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