China and Serbia are deepening their economic ties by expanding the use of China-Europe freight trains, according to a joint statement released on Wednesday. The agreement, signed by Chinese President Xi Jinping and Serbian President Aleksandar Vucic, marks a significant step in strengthening Sino-Serbian relations and boosting bilateral trade.
In 2023 alone, the China-Europe freight train service connected 219 cities across 25 European countries, serving as a vital link for global supply chains. Now, both nations aim to increase the volume of high-quality Serbian products transported to China through these efficient rail routes.
The joint statement emphasizes building a \"China-Serbia community with a shared future in the new era,\" reflecting mutual support for global initiatives. Serbia has expressed its commitment to collaborate with China on the Global Development Initiative, the Global Security Initiative, and the Global Civilization Initiative.
Further cooperation will focus on developing high-tech industrial projects tailored to local conditions and advancing space science and technology. Notably, Serbia will participate in China's International Lunar Research Station, signaling a new chapter in scientific collaboration.
Financial cooperation is also on the agenda, with plans to establish Serbia's RMB clearance bank early on. Both countries are set to promote local currency settlement in bilateral trade and investment, enhancing financial support and services for ongoing and future projects.
This expanded partnership between China and Serbia underscores their dedication to fostering sustainable economic growth and technological innovation, positioning both nations as key players in the evolving global landscape.
Reference(s):
China, Serbia to expand use of China-Europe freight trains: statement
cgtn.com
