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Economic cooperation expected in many areas between China & Serbia


06-16-2016 10:32 BJT

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Serbia is located on the route of China's Belt and Road initiative and is also one of the 16 countries making up Central and Eastern Europe. The country could play an active role in the Belt and Road Initiative and the "16+1 Cooperation" mechanism.

Serbia is looking forward to seeing huge business opportunities emerge through its cooperation with China. 

Serbia is located on the Balkan Peninsula, in south-east Europe, and borders eight countries. Its extraordinary geography provides the backbone for China's cooperation with central and eastern European countries.

"Serbia strongly supports China's Belt and Road Initiative as more communication and connection is vital in the 21st century. Our country is located in a strategic position as a bridge linking Asia and Europe, so we expect more Chinese companies to come to Serbia and Europe to develop together and strengthen the new Silk Road," said Sanja Vasic, Belgrade Chamber of Commerce.

Vasic says huge business opportunities are emerging in the country as many state-owned companies, which have very solid foundations, are being privatized. But some of them are confronted with severe challenges due to a lack of the latest technologies.

The purchase of the country's Smederevo Steel Mill by a Chinese company earlier this year is highly significant.

"I have been the biggest buyer of Smederevo's products over the past one and a half years. But their production difficulties make them hard to meet my demand. The joining of Chinese steel and iron company is vital to improve the factory's technologies and management capacities. I can increase my purchase order by 50 percent after this transformation," said Rodoljub Popovic, director of Atenic Commerce.
With the completion of a bridge across the Danube River in Belgrade in 2014, more infrastructure projects by Chinese companies in Serbia are also expected to begin and be completed very soon, including a thermal power station, a highway across Europe, and a railway linking Serbia and Hungary.

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