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The 16 central and eastern European countries account for a quarter of all the countries involved in China's "Belt and Road" initiative. They are now some of the world's most important emerging markets, but the bloc's cooperation with China is only just beginning and they're both looking at ways to tap into the partnership's real potential.

16 countries. 123 million people.

In 2012, the gross domestic product, or GDP of the central and eastern European states was reported as 1.4 trillion US dollars, with GDP per capita hitting nearly 12,000 US dollars.

Some reported growth that was up there with the best on the continent.

Liu Mingli, from the China Institute of Contemporary International Relations, says there is great potential for China and the 16-country bloc, as both sides are now undergoing economic transformation.

“China is experienced in boosting economic growth through infrastructure, and the central and eastern European countries are currently in need of infrastructure. This is where the two parties can cooperate. Besides, the Asia Infrastructure Investment Bank can provide them with financial support,” Li said.

However, the gloomy global economy is not making any of this easy.

According to government statistics, trade volume between China and the sixteen was at 56 billion US dollars last year. While that was a 28-percent increase on 2010, it was a near-seven percent drop on the year before...

Its trade volume with China only accounted for one-tenth of the EU’s total last year.

So the question is, what can be done to boost their economic cooperation further?

“China didn’t pay much attention to the region when it started to engage into globalization, while the central and eastern European countries were relying heavily on the West. So, it is important for the two sides to build up their political mutual trust before deepening the cooperation. Besides, new energy like nuclear power, as well as railway construction, can be a new dynamic for their cooperation,” Liu said.

The central and eastern Europe has the most dynamic economies in Europe. Experts say, reaching the full potential of cooperation between China and the 16 countries will not only benefit the two parties, but also promote the economic integration within the EU and serve as a new dynamic for the cooperation between China and the whole Europe.