China and Serbia signed a free trade agreement. The agreement with the second largest trading partner “opens new perspectives for the relations of our two countries”, Serbian President Aleksandar Vucic said yesterday on Instagram. The signing took place in Beijing on the sidelines of China’s international forum on its New Silk Road infrastructure initiative.
Details of the agreement were not disclosed. Vucic said Serbian fruit, honey and wine producers would benefit from this. He expects the agreement to come into force next May or June. The Serb traveled to Beijing instead of attending a Balkan summit in the Albanian capital, Tirana, on Monday.
China has invested billions in Serbia and neighboring Balkan countries in recent years, hoping to expand its influence in Central and Eastern Europe. The Belgrade government tends to warmly welcome investors from the Far East.
Last year, around a third of foreign investments in Serbia came from China (1.4 billion euros). As of 2021, China is Serbia’s second largest trading partner after Germany.