In a significant move to bolster bilateral relations, China and Serbia have agreed to expand the use of China-Europe freight trains, aiming to enhance trade and economic cooperation between the two nations. The agreement was formalized in a joint statement issued on Wednesday by Chinese President Xi Jinping and Serbian President Aleksandar Vucic.
China expressed enthusiasm for seeing more high-quality Serbian products enter the Chinese market via the freight train service. The China-Europe freight train network, which in 2023 connected 219 cities across 25 European countries, has become a vital artery for global industrial and supply chains, offering a safe and efficient transportation alternative.
The joint statement emphasized the commitment of both countries to build a China-Serbia community with a shared future in the new era. Serbia voiced its support for China’s initiatives, including the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative, highlighting a shared vision for international cooperation and development.
Beyond trade, China and Serbia have agreed to collaborate on developing high-tech industrial projects tailored to local conditions. A notable advancement in their partnership is the deepening cooperation in space science and technology. China welcomed Serbia’s participation in the International Lunar Research Station, marking a new frontier in their collaborative efforts.
Financial cooperation is also set to strengthen, with both nations supporting the early opening of Serbia’s RMB clearance bank. This move is expected to facilitate the use of local currency settlement in bilateral trade and investment. Additionally, the two sides are encouraging their financial institutions to provide financing support and services to further enhance trade and investment cooperation.
The expanded cooperation between China and Serbia represents a significant step in fostering stronger ties not only between the two nations but also in contributing to the stability and growth of the broader region.
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China, Serbia to expand use of China-Europe freight trains: statement
cgtn.com
