Georgi Valkovich was born in the Ottoman city of Adrianople in Eastern Thrace (today Edirne in Turkey, known in Bulgarian as Одрин, Odrin).

During Alexander of Battenberg's Regime of Proxies (1881–1883) Valkovich was Minister of Foreign Affairs and Religious Denominations (1881–1883) and chairman of the State Council (1883).

[3] At the time, that was the most important diplomatic position from a Bulgarian point of view, as Bulgaria was still de jure an Ottoman vassal, and it was reserved for experienced politicians.

[4] Valkovich was among the originators of Stefan Stambolov's active diplomatic policy aimed at improving the treatment of the remaining Bulgarian population in the empire.

[3] The assassination was carried out by Dimitar Orlovski and Drazhev, Bulgarian Russophile emigrants who were unapproving of Stambolov's pro-Western and anti-Russian alignment.

[2] In his book The Builders of Modern Bulgaria, writer, diplomat and politician Simeon Radev describes Valkovich as follows: "elegant, witty and amusement-loving, he was a perfect social figure; extraordinarily perspicacious, he was also not devoid of slyness".