The Status Quo and Prospects of China-Bulgaria Economic and Trade Cooperation under the Framework of the “Belt and Road Initiative”
The Status Quo and Prospects of China-Bulgaria Economic and Trade Cooperation under the Framework of the “Belt and Road Initiative”

Summary/Abstract: China and Bulgaria nowadays are both at a critical stage of their national economic transformation and modernization. As emerging markets, the two countries have highly consistent goals in many aspects, such as the development concept, pragmatic cooperation, and improvement of their peoples’ livelihood. And they both aim to further expand the opening-up, maintain multilateralism, and promote rapid economic development. These common features have helped the two countries in achieving prosperous economic and trade cooperation within the framework of the “Belt and Road Initiative.” Bulgaria is in a favourable position for participating in the “Belt and Road Initiative.” The strong complementarity between China and Bulgaria in agriculture, transportation industry, information technology, finance, infrastructure construction, and tourism has formed the foundation for deepening the economic and trade cooperation between the two countries. Though a series of challenges still exists between them, such as the lack of sufficient understanding between enterprises and people of the two countries, as well as the problems of how to facilitate the recognition of Bulgarian goods in the Chinese market, improve the business environment, and deal with the EU trade containment policy, the two sides still have very optimistic future prospects in economic and trade cooperation with the steady and pragmatic promotion of the “Belt and Road Initiative.”

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