Serbia and China have officially signed a free trade agreement, a move that signifies closer economic relations between the two nations amid Europe’s broader efforts to reassess its trading relationships with China. The agreement was signed during the Belt and Road Forum for International Cooperation held in Beijing, with Serbian President Aleksandar Vučić in attendance.
President Vučić, expressing optimism about the deal, highlighted its significance for Serbia’s economic prospects, particularly noting the potential benefits for Serbian honey producers and winemakers. He anticipates the agreement will be implemented by the middle of the next year and expressed gratitude towards Chinese President Xi Jinping for the value placed on the relationship with Serbia.
This agreement marks China’s fourth free trade deal with a European country, following agreements with Switzerland, Iceland, and Georgia. While specific details of the deal remain undisclosed, its conclusion aligns with Serbia’s strategic economic interests.
The signing occurs against the backdrop of the European Union’s ongoing efforts to recalibrate its trade strategy concerning China, aiming to mitigate risks associated with perceived unfair trading practices without a corresponding free trade agreement.
Chinese state media reported President Xi Jinping referring to Serbia as a “staunch friend” of China, underscoring the strength of bilateral ties. In addition to the trade agreement, the two nations also concluded several commercial contracts for Chinese firms to undertake infrastructure projects in Serbia, including the construction of a high-speed motorway.
In 2022, China was identified as Serbia’s second-largest trading partner, with bilateral trade reaching $6.15 billion.
The forum also saw the participation of Hungarian Prime Minister Viktor Orbán and Russian President Vladimir Putin. President Vučić mentioned a brief interaction with President Putin but did not disclose the content of their conversation.
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