China and Serbia set to boost trade based on strong political ties

More than 200 representatives of trade promotion institutions, business associations, and enterprises from China and Serbia participated in the China-Serbia Economic and Trade Cooperation Forum in Serbian capital Belgrade. 

The event was co-hosted by the China Council for the Promotion of International Trade and the Serbian Chamber of Commerce. 

Serbia has acknowledged that the visit of Chinese businesses is very important for them. President Aleksandar Vucic, with his associates, met with the heads of the delegation, and the atmosphere in the Serbian Chamber of Commerce was upbeat as the meeting between businesses progressed. 

The main objective was strengthening communication and contact between the business communities of the two countries and resolving some existing administrative hurdles.

"How can we speed up the implementation and make the implementation of our free trade agreement even more efficient? There are things on which we can work much faster," Marko Cadez, President of the Serbian Chamber of Commerce and Industry, told CGTN.

"We have already increased the export of goods and services from Serbia to the Chinese market by more than 50 percent," Cadez added.

Scientific and technological innovation

The two countries also discussed how they can expand cooperation to emerging areas such as scientific and technological innovation. Other areas of cooperation that were discussed included advanced manufacturing, green energy, digital economy and artificial intelligence. 

Moreover, Serbian enterprises were also invited to participate in the third Chain Expo in China. 

There are many reasons for the Chinese delegation to come to Belgrade, but one standout reason was "to have match-making meetings and face-to-face talks with our counterparts." 

Sun Xiao, Secretary-General of China Chamber of International Commerce told CGTN, "We want to know more about the Serbian business environment and seek more business opportunities. We also want to build a more resilient supply chain between the two sides."

Some of the world business heavyweights present in Belgrade stressed the importance of this visit, among them was Liu Jiandong, Chairman of Bank of China - Europe S.A.

"Bank of China has established branches in 64 countries and regions worldwide, making internationalization and globalization its most distinctive features and key strengths. In 2017, we established a subsidiary in Serbia, dedicated to supporting China-Serbia economic and trade cooperation," Liu said.

China is the single biggest investor in Serbia, surpassed only by an EU agglomerate of nations. After this meeting, the country hopes for more investments coming from one of the world's biggest economies.