A business forum on Bulgaria-China cooperation in the automotive sector was held in Sofia on Wednesday, aiming to strengthen bilateral cooperation and establish new partnerships.

More than 50 Bulgarian and Chinese companies participated in the forum, organized by the Chinese embassy in Bulgaria and the Bulgarian Chamber of Commerce and Industry (BCCI).

Chinese Ambassador to Bulgaria Dai Qingli, speaking at the opening ceremony, said the event was fully consistent with the priority areas, development direction and cooperation needs of both countries, providing a valuable platform for deepening the bilateral partnership.

The automotive sectors of the two countries maintained close cooperation, and Chinese companies, such as Great Wall and Dongfeng, had many years of experience in Bulgaria, Dai said.

She also said that the automobiles in China have transformed from traditional means to an integration of new energy sources, artificial intelligence and big data technologies.

This transformation created new and greater opportunities and prospects for deepening bilateral cooperation, Dai said.

Doncho Barbalov, Bulgaria's deputy minister of economy and industry, said the automotive industry in his country has seen significant development in recent years, and employs more than 75,000 people in over 350 companies.

Bulgaria was deeply integrated into the European automotive sector, Barbalov said. Currently, 80 percent of the sensors in all European cars are manufactured in Bulgaria, he said.

He said he hoped the forum would be another step forward in building bridges between Bulgarian and Chinese companies.

"China's enviable growth rates make it a desirable partner, and that's why we are also looking for cooperation," Tsvetan Simeonov, president of the BCCI, said.

This cooperation would be beneficial not only for Bulgaria, but also for the European Union and China, he said.

Lyubomir Stanislavov, CEO and member of the Board of Directors of the Automotive Cluster Bulgaria, said that the automotive industry has been the fastest-growing industry in Bulgaria for the past decade. "Starting almost from scratch, it now generates between 10 percent and 11 percent of the country's gross domestic product," he said.

He said he believed that this forum was being held at the right time, as Chinese manufacturers were entering the European market, and Bulgaria was a natural place and a natural partner for the Chinese automotive industry.