China will invest about EUR 20 M to make Bulgarian Black Sea port of Burgas a logistics hub for trading in goods with partners in Central and Eastern Europe, the port’s Executive Director has said.

Burgas Port CEO, Dian Dimov, said that the funds will be invested into the construction of a logistics center and a trading pavillion for contacts between trading partners from China and 16 countries of Central and Eastern Europe, investor.bg economic news website reported.

The contract was signed on April 29 for a five-year term in the Chinese city of Hangzhou, Dimov added.

The project will help develop bilateral and multilateral trade relations between China and CEE and facilitate the establishment of a multilateral platform for trade in goods.