Amid global economic shifts and geopolitical pressures, an increasing number of European countries are turning to China for enhanced trade and investment opportunities. Despite calls from certain sectors to decouple from the world’s second-largest economy, the allure of China’s vast market and investment potential remains strong across Europe.
In 2023, China solidified its position as the European Union’s largest partner for imports of goods, accounting for 20.5 percent of all imports. This places China ahead of traditional partners like the United States, the United Kingdom, Switzerland, and Norway. Chinese involvement in infrastructure projects across the continent further underscores the depth of economic ties between China and Europe.
Serbia serves as a notable example of this growing cooperation. While some voices advocate for distancing from China, Serbia has actively embraced investment and collaboration with Beijing. Often described as being in an “eternal EU waiting room,” Serbia has pursued an “iron-clad” friendship with China.
In a historic move, Serbia signed a free trade agreement with China, the first such agreement between Beijing and a nation from Central and Eastern Europe. China has agreed to invest $2.18 billion in Serbia to build a 1.5 GW wind farm, a 500 MW solar plant, and a hydrogen production facility. These developments signal a significant commitment to sustainable energy and economic development in the region.
Beyond economic collaboration, Serbia and China have strengthened their diplomatic and political ties. China has expressed a willingness to enhance high-level exchanges and plan future cooperation to elevate China-Serbia relations to new heights. Such commitments reflect a mutual interest in deepening strategic partnerships.
Chinese President Xi Jinping’s anticipated visit to Europe, including a stop in Belgrade, symbolizes the enduring relationship between China and Serbia. This visit, coinciding with the 25th anniversary of the NATO bombing of the former Chinese embassy in the city, marks a poignant moment in bilateral relations. President Xi’s previous visit in 2016, when he paid respects at the site of the former embassy, highlights the historical ties and mutual respect between the two nations.
As European countries navigate complex international landscapes, many are finding value in strengthening ties with China. The mutual benefits of economic cooperation, investment in infrastructure and sustainable energy, and diplomatic engagement suggest a continued trend toward closer relations between Europe and China.
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Why more European countries are turning to China for cooperation
cgtn.com
