In the face of mounting calls from Washington to decouple, a growing number of European countries are strengthening their trade and investment ties with China. This trend underscores the robust economic relationship between Beijing and Brussels.
China has solidified its position as one of the European Union's most significant trading partners. In 2023, it accounted for 20.5% of the EU's goods imports, surpassing other major partners like the United States, the United Kingdom, Switzerland, and Norway. Additionally, China's involvement in numerous infrastructure projects across Europe highlights its expanding influence on the continent.
Serbia stands out as a prime example of this deepening cooperation. In a strategic move, Serbia signed its first free trade agreement (FTA) with China last year—the first FTA Beijing has inked with a Central and Eastern European nation. Further cementing this partnership, China committed to investing $2.18 billion in Serbia in January 2024, funding a 1.5 GW wind farm, a 500 MW solar plant, and a hydrogen production facility.
Beyond economic ventures, the diplomatic and political bonds between Belgrade and Beijing are flourishing. Chinese Foreign Minister Wang Yi emphasized China's commitment to enhancing high-level exchanges and future collaborations with Serbia, aiming to elevate China-Serbia relations to unprecedented heights.
The forthcoming visit of Chinese President Xi Jinping to Europe symbolizes this strong Beijing-Brussels alliance. Xi is slated to visit Belgrade around the 25th anniversary of the NATO bombing of the former Chinese embassy, marking a significant moment in China-Serbia relations. During his 2016 visit, Xi became the first Chinese leader to pay respects at the embassy site, a gesture that highlighted the depth of their partnership.
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Why more European countries are turning to China for cooperation
cgtn.com
