China and Serbia have inked two agreements for road construction amounting to around 4 billion euros (4.2 billion dollars) and signed a contract for the acquisition of five high-speed trains, as reported by the Ministry of Transport.<\/p>\n
These contracts, sealed in Beijing, followed a day after the two nations signed a free trade agreement during a forum for the Chinese initiative \u201cBelt and Road\u201d, highlighting Beijing\u2019s efforts to strengthen ties with Western powers.<\/p>\n
The road construction agreements, totaling 4 billion euros, will empower Serbia to develop approximately 300 kilometers of new roads and highways, according to an official statement from the ministry.<\/p>\n
Transport Minister Goran Vesi\u0107 expressed, \u201cThis is a substantial contribution to the enhancement of road infrastructure\u201d.<\/p>\n
He also added, \u201cWe have procured five trains for 54 million euros, signifying that we will now have Chinese high-speed trains operating on the Belgrade-Budapest railway\u201d.<\/p>\n
Some of these trains are expected to commence operations in early 2025, connecting the capital city of Belgrade with the northern city of Subotica.<\/p>\n
Vesi\u0107 further noted, \u201cWhen our Hungarian counterparts complete their section of the railway, we will extend our route to Budapest\u201d.<\/p>\n
The provided statement lacks specific details regarding project financing, and AFP has sought clarification from Serbian authorities.<\/p>\n
Typically, Chinese investments in \u201cBelt and Road\u201d infrastructure projects involve loans, with Chinese companies carrying out the construction. However, several countries have encountered challenges in repaying these debts.<\/p>\n
China has been injecting billions of euros into Serbia and neighboring Balkan countries in recent years, aiming to expand its economic influence in Central and Eastern Europe.<\/p>\n
In September, Belgrade announced that the Chinese state-owned enterprise Zijin Mining would invest 3.8 billion dollars in the mining complex located in the eastern city of Bor.<\/p>\n
As Serbia aspires to join the European Union, it has become a significant recipient of Chinese investments. Belgrade is actively seeking diverse investors amidst the geopolitical competition between East and West for influence in the Balkans.<\/p>\n
Approximately one-third of foreign investments in Serbia last year originated from China, totaling 1.4 billion euros.<\/p>\n
In 2022, China emerged as Serbia\u2019s second-largest trading partner after Germany, with the bilateral trade volume reaching 6.15 billion dollars.<\/p>\n","protected":false},"excerpt":{"rendered":"
China and Serbia have inked two agreements for road construction amounting to around 4 billion euros (4.2 billion dollars) and signed a contract for the acquisition of five high-speed trains, as reported by the Ministry of Transport. These contracts, sealed in Beijing, followed a day after the two nations signed a free trade agreement during […]<\/p>\n","protected":false},"author":24,"featured_media":62577,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[250],"tags":[870,932,2680,2551,243,151,5132,5133,301,4864],"acf":[],"yoast_head":"\n