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Chinese chain stores are looking for Eastern European products

Opportunities to sell Bulgarian products in large Chinese chain stores are being researched







 Today at BCCI a meeting was held between representatives of large Chinese chain stores and local businesses. The aim of the visit was to exchange information and motivation to start business cooperation between the two countries. 

The forum was opened by Vasil Todorov, Secretary General of BCCI. He explained that there is great interest by Chinese investors and unutilized potential for development of Bulgarian companies. Mr. Todorov emphasized the advantages of setting up a business in Bulgaria: low corporate and income tax rates, as well as the application of EU legislation. 

BCCI fully supports the development of relations between the two countries by providing all the necessary conditions – using the services of the Arbitration Court as a serious guarantee for investors, the Internet platform E-Com Grid, as well as the GS1 Council. 

The meeting went on with a presentation by Mr. Christo Sodev, CEO of GS1 Bulgaria. He pointed out that GS1 is the factor which allows large department stores to enter the Bulgarian market. Due to this factor, there are world-known store chains in Bulgaria at present. 

Leading Bulgarian retailers took part in the discussion, willing to share their experience with their Chinese colleagues. They shared that only 35% of Bulgarian retail market is occupied by modern trade, and the remaining 65% - by independent retail trade in food and non-food products. 

The Chinese delegation was leg by Han Hongsen, General Manager of the largest Chinese concern. He said that the aim of the visit was to explore the opportunities for selling Bulgarian products in large Chinese department stores. The concern is interested in Eastern European countries. During their visit to Bulgaria, the Chinese representatives paid a visit to a Bulgarian department store and were pleased with what they saw. 

The Chinese partners accented on the differences between department stores in Bulgaria and in China – namely the size, the variety and trading area. With regard to this, the Secretary General of BCCI pointed out the need to work out a strategy for promoting bilateral meetings between partners in order to avoid the significant discrepancies between the abilities of Bulgarian manufacturers and the needs of the Chinese market.

The forum ended with bilateral meetings between Bulgarian and Chinese businessmen for the purpose of finding partners and establishing long-term relations with the Chinese concern. 

28.08.2012

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