Bulgarian-Chinese trade, economic and financial relations within the initiative "One Belt, One Road" - Challenges and Prospects in the New Post-Covid World

TIAN, Mariana (mar_malinova@abv.bg) 

Assoc. Prof. Mariana Tian, sinologist at the Bulgarian Academy of Sciences, Secretary General of the China-CEE Global Partnership Center. She studied Chinese at BFSU; Doctor of Chinese History; Two-year specialization at RUC; Specializations at various institutes of CASS, Merton College, Oxford, BLCU; Over 100 scientific publications; monographs "Genesis and development of Chinese civilization" and "Bulgarian-Chinese relations in the modern period"; Lecturer; Scientific and language consultant for books; Translator of textbooks in modern Chinese. Member of the Association of Interpreters and Translators; 17+1 Think Tanks Network; The Union of Scientists in Bulgaria; Bulgarian Historical Society. 

Research Overview 

The report consistently traces the state of Bulgarian-Chinese relations over the past ten years in the trade, economy and finance sectors. The emphasis is on the new dynamics in our bilateral relations, which is caused by two main factors: On the one hand, with its growth as a second world economy and technological leader in many areas, China has radically strengthened its activity in the international arena, becoming a significant exporter of capital and a promising investor, not only in developing countries but also in Europe. A convincing embodiment of China's innovative vision is the BRI, launched in 2013, designed to strengthen China's connectivity with the rest of the world. On the other hand, the inclusion of Bulgaria as a "more friendly to China wing" in the construction and implementation of European Union policies, including to deepen its relations with China, elevated to the level of a "comprehensive strategic partnership". 

The report provides answers to the question of how Bulgaria views the global Chinese initiative BRI through the prism of another regional cooperation platform "CEE - China" ("17 + 1"), in which in 2015 we signed a bilateral Memorandum with China for BRI cooperation. In addition, the report seeks interconnection and synergy with the European Concept of Connectivity with Asia, the TEN-T Trans-European Transport Network and the EU-China Connectivity Platform. 

Special attention is paid to the legal basis, incl. intergovernmental and interdepartmental agreements, arrangements, contracts, etc. in the considered three areas – economy, finance, trade. 

The trends in our bilateral trade and the obvious imbalance in bilateral trade in favor of China, which is our largest Asian trading partner among our export partners outside the EU, are discussed. Greater attention is paid to Bulgarian exports, which are limited to a small range of goods and the reasons for this fact are analyzed. Bulgaria is also looking forward to the Global Partnership Center of the 17 + 1 Initiative, based in Sofia, designed to stimulate business contacts by explaining the conditions for business activity of companies from China and CEE. 

The conclusion summarizes Bulgaria's strategic shortcomings in working with China's gigantic potential, its dynamic development, its relations with the rest of the world and, last but not least, its key role in international politics in the new post COVID pandemic world