Xinhua News Agency, Belgrade, December 20, Summary | Serbs are optimistic about the prospects of Serbia China “the Belt and Road” cooperation
Serbian President Vu č i ć recently visited a car parts manufacturing plant invested by Chinese companies in the southern city of Nis and pointed out that the economic and trade cooperation between Serbia and China has achieved great achievements that make both peoples proud. Investment by Chinese enterprises is crucial for Serbia’s economic and social development and job creation, and Serbia will continue to provide comprehensive support for the operation of Chinese enterprises in Serbia.
In recent years, the economic and trade relations between China and Serbia have entered the fast lane. China’s proposal of “expanding high-level opening up” and “promoting the joint construction of high-quality development along the the Belt and Road” has aroused positive resonance in the Serbian political, business and academic circles. People from the Serbian side believe that the cooperation model based on mutual respect, mutual benefit and win-win results between Serbia and China not only brings tangible benefits to the two peoples, but also provides a model for international economic and trade cooperation under the framework of jointly building the “the Belt and Road”.
According to Chinese data, from 2013 to 2024, Serbia’s exports to China increased from 22 million US dollars to 1.9 billion US dollars, a growth of about 85 times; During the same period, China’s direct investment in Serbia increased from 22.2 million euros to 1.4 billion euros.
China has become the largest source of foreign direct investment in Serbia. Chinese enterprises’ investments in Serbia cover multiple fields such as steel, infrastructure, mining, and energy. The cooperation projects between Hebei Iron and Steel Smederevo Steel Plant, Zijin Bor Copper Mine, and Hungary Serbia Railway have revitalized Serbia’s economy and greatly promoted Serbia’s modernization process.
The Chairman of the Serbian Chamber of Commerce, Chadairi, recently stated in an interview with Xinhua News Agency that the annual growth rate of Serbia’s exports to China has continued to exceed 50% in recent years. The Serbia China Free Trade Agreement, which will come into effect in 2024, has opened up new channels for Serbian goods to enter the Chinese market.
Chadairi pays special attention to the progress of the construction of Hainan Free Trade Port and believes that Serbian enterprises can take this opportunity to actively explore the potential for cooperation with China in tropical agriculture, high-end tourism, medical and health fields, and further broaden the breadth and depth of economic and trade cooperation between the two countries.
Katarina Zakic, director of the “the Belt and Road” Regional Research Center of the Serbian Institute of International Political Economy, believes that from “opening up” to “high-level opening up”, the evolution of China’s opening policy is deeply consistent with Serbia’s development needs. Serbia is committed to economic structural transformation, hoping to transform from a raw material exporting country to a country with modern industry and innovation capabilities, and China’s technology, experience, and market are crucial to Serbia.
Currently, China Serbia cooperation is expanding into areas with higher technological content and stronger innovation. Zaki ć stated that Serbia looks forward to deepening cooperation with China in areas such as renewable energy, smart industry and agriculture, communication technology, and medicine. In some areas, substantial progress has been made in cooperation between the two countries. For example, companies from both countries are collaborating to build a green hydrogen production facility in Bor city. In addition, Chinese electric vehicle companies have planned to invest in building factories in Serbia, which is expected to drive the development of the local automotive industry chain.
Chinese Ambassador to Serbia Li Ming pointed out that in recent years, under the strategic guidance of the two heads of state, pragmatic economic and trade cooperation between China and Serbia has flourished. Both sides have jointly implemented a large number of infrastructure and investment projects, making positive contributions to the construction of Serbia and bringing tangible benefits to the two peoples. The Chinese government encourages more competent Chinese enterprises to invest in Serbia, and promotes high-quality joint construction of the “the Belt and Road”.