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Economic cooperation full steam ahead

CCTV.com

06-18-2016 04:08 BJT

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In what areas are China and Serbia cooperating in economically, and what have they achieved so far? Within the frameworks of the Belt and Road Initiative and the cooperation between China and the Central and Eastern European countries, CEEC for short, practical cooperation is making breakthroughs.

Major contract projects like the Belgrade-Budapest Railway, the Mihajlo Pupin Bridge, the E763 Motorway, the expansion and upgrading of Kostolac Power Plant are all making sweeping progress. In infrastructure construction, let's take the Hungary-Serbia railway as an example. It is China's first high speed rail built in Europe, a joint project between China, Serbia and Hungary, and marks the start of the cooperation between China and the CEE countries.

In addition, just recently in April, China's Hebei Iron and Steel Group signed a contract for the purchase of Serbia's steel mill Smederevo. This is a game-changer for Serbia, creating more job opportunities and competitiveness.

And that's to name but a few. According to the spokesman of the Chinese commerce ministry, by the end of April this year, China's investment in Serbia had added up to more 85 million US dollars. Serbia's investment in China had reached above 34 million US dollars. The two countries plan to lift trade and investment even more in the future.

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