Sino-Bulgaria Bilateral Ties in High GearChina and Bulgaria signed five co-operative agreements Wednesday, pushing the two countries' 50-year-old bilateral co-operation into high gear.The agreements, covering fields including environmental protection, transportation and communications, health and medical science, labour market and social policies, and culture, science and education, were signed after a one-and-half-hour meeting between visiting Chinese Premier Zhu Rongji and Bulgarian Prime Minister Ivan Kostov. The two countries have reached 43 co-operative agreements, of which 25 were clinched in the past decade, said Kostov. He said Bulgaria valued Zhu's visit and the new agreements, and hoped that the two countries can expand their co-operation. Kostov also welcomed Chinese investment in his country. Zhu suggested the two countries explore new ways to boost bilateral trade and economic co-operation, encourage local governments and enterprises to intensify direct contact and look for projects with co-operation potential to expand the scale of bilateral trade and improve co-operation. Zhu said Bulgaria is a traditional trading partner of China. However, bilateral trade has been at a low level in recent years while economic and technical co-operations are in the start-up stage. During their meeting, Zhu expressed his satisfaction over the development of bilateral relations in recent years and his appreciation for the Bulgarian Government's one-China policy. Zhu said China regarded Bulgaria as a reliable partner in Europe and is willing to see Bulgaria play a bigger role in maintaining peace and stability in the Balkan region and Europe. Zhu also expressed his understanding and respect for the Bulgarian Government's involvement in the integration process of Europe. He invited Kostov to visit China at an appropriate time. Kostov said Zhu's decision to take Bulgaria as the first leg of his European tour highlighted the Chinese Government's affirmation of Bulgaria's role in the Balkan region. Kostov said Bulgaria attached great importance to China's role in global affairs and admired China's great achievements in its opening and reform. He said although his country gave priority to integration into Europe, it also paid great attention to developing its relationship with Asian countries, especially China. At a press conference after their meeting, Zhu told reporters he believed China can realize its goal of bailing out debt-ridden State enterprises by the end of this year. "After three years of efforts, including stopping redundant construction, stimulating domestic consumption, implementing debt-to-equity swap on enterprises with good management, and restructuring of enterprises, China can definitely realize the target," he said. China set the target to turn most of its loss-making large and medium-sized State enterprises into profitable businesses in 1997. With the approaching of the deadline at the end of this year, concerns arise whether China is able to reach the goal. The target doesn't signify the completion of State enterprise reform and the more important step should be transferring State enterprises into joint-stock companies, the Chinese Premier said. "We don't favour simple privatization (of State enterprises)," Zhu said. "We prefer restructuring them into joint-stock firms." He said the recent successful listing of several huge State enterprises in Hong Kong or other overseas stock markets proves that the prospect for joint-stock transformation of large State enterprises is "brisk." |
| People's Daily Online --- http://www.peopledaily.com.cn/english/ |