The Bulgarian Chamber of Commerce and Industry (BCCI) – WTC Sofia-affiliated and Tianjin Sub-council – China Council for the Promotion of International Trade - WTC Tianjin have signed a Memorandum of Understanding during a B2B meeting between Bulgarian entrepreneurs and a Tianjin business delegation that was held on the 30th of August 2017 at the premises of the Chamber in Sofia, Bulgaria.

The meeting was opened by Mr. Tsvetan Simeonov, President of the BCCI, and Mr. Duan Yimin, Vice Chairman of the CCPIT-Tianjin who welcomed the expressed interest for cooperation between Bulgarian and Chinese businesses. During the event, an outline of the Bulgarian economic advantages and incentives for doing business was presented. The advantages are numerous among them are: the location of the country, EU membership and low corporate taxes, regions with 0 taxation on profit etc. A summary of Tianjin’s commercial and industrial performance was also presented. The China Province benefits from its overseas network - the Port of Tianjin being the 5th largest port in the world, harboring more than 550 million tons of goods yearly. There are well-developed factories that produce units and components used in the machinery sector.

After the official part and the signing of the Memorandum of Understanding, B2B meetings took place, whereas Bulgarian and Chinese companies were able to establish contacts and to plan future cooperation, representing various economic sectors such as: light industry, production of eco-friendly constructing materials, landscaping, tourism, production of aluminum components, electric bicycles, photovoltaic systems and smart systems for building maintenance and control, organizing fairs and exhibitions, etc.