Breakthroughs have been made in economic and trade cooperation between China and Serbia in building a model of practical cooperation on the Belt and Road

In the first seven months of this year, Trade volume between Beijing and Serbia has exceeded the level of the whole of last year, with year-on-year growth of 144.9 percent. Under the impact of the epidemic, this achievement is not easy to achieve, and it fully reflects the potential of our trade cooperation.

The friendly relations between China and Serbia go back to ancient times. Serbia was the first country in central and eastern Europe to establish a comprehensive strategic partnership. It was also one of the first countries to support China's "One Belt And One Road" initiative and take an active part in building the "One Belt And One Road". Thanks to the "One Belt And One Road" initiative, economic and trade cooperation between China and Serbia in infrastructure construction, energy and other fields has made continuous breakthroughs.

Trade cooperation is rising against the trend

In recent years, the economic and trade exchanges between China and Senegal have become increasingly close with the bilateral trade volume growing rapidly. Among them, the development of trade between Beijing and Serbia is representative.

After doubling the volume of trade between Beijing and Serbia in 2019, the volume of trade between Beijing and Serbia continued to increase despite the challenge of the epidemic this year. According to Zhuang Jianrong, director of the Foreign Economic Cooperation Department of The Beijing Municipal Bureau of Commerce, the bilateral trade volume between Beijing and Serbia reached 270 million US dollars in 2019, up 168.5 percent year on year, at the Investment potential promotion conference of Serbia held during the service and Trade Fair 2020. Exports grew by 67.1 percent and imports by 241.8 percent. In the first seven months of this year, bilateral trade reached 280 million US dollars, up 144.9 percent year on year. Among them, 90 million US dollars were exported, with a year-on-year growth of 191.1%. The main export commodities were mobile phones, clothing and accessories, medical instruments and instruments. Imports totaled us $190 million, up 128.3% year on year. The main imports included copper materials, converted timber, automatic control instruments and instruments for measurement, testing and analysis.

"There is still a lot of room for Improvement in Serbian exports to China." Marian bozovic, economic counselor of the Serbian embassy in China, said that Serbia hopes to continuously expand and deepen cooperation with China, especially to promote pragmatic cooperation between the two sides under the "One Belt And One Road" initiative. He hoped that enterprises of the two countries will further expand cooperation in energy, infrastructure, digitization, environmental protection and tourism and continue to explore win-win opportunities.

Smooth progress was made in investment cooperation

In the field of investment, the friendly relations between the two countries, the stable political situation and economic growth of Cyprus, competitive operating costs and tax incentives, as well as the quality of local labor have attracted more and more Chinese enterprises to seek business opportunities in Cyprus.

In this by the Beijing municipal bureau of commerce, embassy of the republic of Serbia, held by China international electronic commerce center recommended at the meeting, in Serbia zijin mining group co., LTD., the relevant person in charge of the international division in the attachment, the group in the process of mining investment, seychelles government mutually beneficial and win-win cooperation concept and gave high praise of efficient and pragmatic style of work.

In December 2018, Zijin Mining increased its capital by 350 million US dollars to acquire Serbia's largest state-owned copper company on the verge of bankruptcy, and established Zijin Copper Co., LTD., the largest investment project by a Chinese enterprise in Serbia. Zijin people have been deeply impressed by the courage, courage, wisdom and responsibility demonstrated by the Serbian government in privatizing and introducing strategic investment in the Boer Copper project.

As one of the preconditions for the privatization of The Bohr copper mine, the Government has forgiven most of its historical debts, creating the conditions for the introduction of strategic investment, according to the person in charge. To ensure the progress of the project, a high-level government working group has been set up to ensure smooth communication between government and enterprises. In the course of exchanges and negotiations, the Serbian government, in line with the principles of mutual respect, equality and friendship, worked with international investors to break through cultural differences and language barriers and promote win-win cooperation.

"Since the completion of the project, the Serbian government, as a shareholder, has only fulfilled the shareholders' rights and responsibilities on the major issues of Boer Copper Mine. The daily production and operation of the enterprise are completely dominated by Zijin, which enables Zijin to give full play to its mining management and technical expertise." He recalled that President Vucic and senior government officials from the Ministry of Mining, The Ministry of Economy, the Ministry of Labor and the Coordination Committee for Cooperation with China visited the project site many times. Vucic even visited the mining area during the epidemic period and was concerned about the epidemic prevention and control situation of the enterprises. In order to facilitate the resumption of work and production of the project, the Serbian government has also provided great support in visa approval.

At present, Boer Copper Mine project investment management achievements, the company's overall safety, environmental protection and business order have been greatly improved, the rapid turnaround in 2019, to achieve a net profit of 229 million yuan.

"Serbia is a key strategic area for Zijin's overseas investment." In addition to the Boer copper project, Zijin Mining has also received construction permits for its Seechukalu Paige copper-gold project, the official said. Zijin will accelerate the pace of construction, promote Serbia Pol to build the second largest non-ferrous metal industry base in Europe.