Confirmation of Bulgarian-Chinese Trade Relations: Signing of a Memorandum of Cooperation between RTIC and CCPIT-Ningbo

The Bulgarian delegation, which actively participates in business events in Ningbo, China, has made a significant contribution to the strengthening of trade relations between the two countries through the official signing of Memorandum of Cooperation between the Ruse Chamber of Commerce and Industry (RTIK) and the China Council for the Promotion of International Trade, Ningbo Committee (CCPIT-Ningbo).

On the same day, before signing the Memorandum, the delegation under the leadership of Mr. Milen Dobrev, executive director of RTIK, participated in a forum organized especially for them, with leading companies from the Jiangbei area.

During the forum, the Bulgarian delegation presented information about the economic situation in Bulgaria, the investment climate and the system of business chambers, as well as the represented Bulgarian companies. Then it was held conference to establish business contacts, which made it possible to hold individual meetings and discussions between companies from Bulgaria and China.

China Council for the Promotion of International Trade, Ningbo Committee (CCPIT-Ningbo) is a non-governmental organization for foreign economy and trade in Ningbo. CCPIT-Ningbo develops relations with the economic and commercial communities, chambers of commerce and associations from Hong Kong, Macau, Taiwan and other parts of the world.

The main objective of CCPIT-Ningbo is to promotes the development of foreign trade, foreign investment, foreign economic businesses and service trade and contribute to the economic development of Ningbo.

According to the text of The memorandum, the aim of the cooperation is to strengthen trade and economic relations between China and Bulgaria, with the two countries working together on a mutually beneficial basis.

The articles in the document cover a range of activities, such as maintaining permanent contacts, exchanging information on economic development, trade and investment policies, technology transfer and intellectual property protection.

The two parties undertake to mediate the establishment of mutually beneficial relationship between various organizations from both countries, as well as to support the exchange between Ningbo and Bulgaria by organizing economic and trade delegations, working groups and others. The MoU was signed on July 6, 2023 in Ningbo, China.

The Ruse Chamber of Commerce and Industry played an important role in organizing the events that laid the foundations for the potential strengthening of Bulgarian-Chinese trade relations. At the initiative of Mr. Dobrev, the two organizations signed The Memorandum of Cooperation. This document symbolizes the beginning of our common intentions and planned actions. However, the future development of these ties and the degree of their strengthening will depend on the efforts and opportunities ahead.