16.11.2016 / The first free trade zone within 16+1 will be established in Bulgaria

The first Free Trade Zone under the 16+1 Initiative will be established in Bulgaria. This was made clear during an agri-business forum opened by Deputy Minister of Agriculture and Food Vasil Grudev at the 14th International Agricultural Trade Fair in Kunming, China.

During the Business Forum, the Executive Director of the Association for the Promotion of Agricultural Cooperation between China and the Central and Eastern European Countries Vasil Gelev signed a tripartite agreement for the construction of the first Free Trade Zone 16+1. It is a continuation of the signed memorandum between APACCCEEC and the Bulgarian-Chinese Business Development Association, of which the Trakia Economic Zone is a member.

The document envisages attracting at least EUR 50 million in investments in the Trakia Economic Zone – Plovdiv. On the Chinese side, the investment is provided by ACN Worldwide Shanghai. APACCCEEC will coordinate and promote the successful implementation of the project between the Parties. On the territory of more than 10 hectares new infrastructure will be built including commercial and warehouse space, as well as administrative premises for conducting commercial operations.

Within the framework of the 14th International Agricultural Trade Fair there was also a discussion-presentation on goji berry products, attended by the Ministers of Agriculture from the 16+1 countries. A Memorandum of cooperation in the field of agricultural machinery, innovation and the introduction of modern technologies was signed to improve the ability to apply agricultural techniques in the countries concerned.

The signed document will allow enhancing technological exchange and training of staff in all areas of agriculture, including crop production, livestock breeding, fisheries, agricultural machinery and more. The construction of an Agricultural Innovation Demonstration Park is also envisaged. The Parties undertake to build it in order to present new technologies in the fields of sowing, stockbreeding and aquaculture, deep processing of agricultural products and more.