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Serbia, China sign framework agreement on economic, technological infrastructure cooperation

Belgrade/Beijing, 21 August 2009

Serbian President Boris Tadic and Deputy Prime Minister and Minister of Economy and Regional Development Mladjan Dinkic took part in the Serbian-Chinese trade and investment forum in Beijing yesterday.

Mladjan Dinkic

Author: Fonet

Dinkic and Chinese Minister of Commerce Chen Deming signed an agreement on economic and technological cooperation for infrastructure projects in Serbia.

Dinkic stated that one loan will be approved to build a Zemun-Borca bridge, noting that the project will cost up to €200 million.

The Chinese Commerce Ministry will subsidise this loan, which will be approved under most favourable terms for Serbia, he said.

Dinkic explained that the loan from the Export-Import Bank of China will have a 15 year repayment period and a 5 year grace period, with a maximum interest rate of below 3% per annum.

We also discussed other infrastructure projects in Serbia as our ambition is to carry out other regional projects, including the Kragujevac ring road, a tunnel through Fruska Gora and to connect Prokuplje and Sabac to Corridor 10, he said.

China has become the biggest creditor in the world while only 30 years ago it was the country that borrowed the most money, Dinkic said.

The traditional friendship between Serbia and China has been reaffirmed and the two delegations expressed a readiness to intensify cooperation through building a strategic partnership.

Tadic, who was welcomed in Beijing by Chinese President Hu Jintao, said that the intensification of cooperation with China in all areas has become one of the pillars of Serbian foreign policy.

The two presidents reaffirmed there are no open issues between Serbia and China and that respecting other countries' territorial integrity is of utmost importance for future relations.

Serbia supports the one-China policy, whereas Chinese officials confirmed that China respects Serbia's sovereignty and territorial integrity.

Boris Tadic

Author: Fonet

Tadic and Jintao agreed to create a strategic partnership, especially in economic matters.

Beijing is the fourth pillar of Serbian foreign policy, along with Brussels, Washington and Moscow, Tadic stated.

We suggest building a modern port on the Danube and a free customs zone for Chinese companies, Tadic said.

Chinese investors have great opportunities in Serbia thanks to the country's good geographical position and the fact that major road and waterway corridors pass through it, along with a number of free trade deals allowing for the sale of goods from Serbia to a market of 800 million consumers.

There will be some huge construction projects in Serbia in the near future, said Tadic, noting that the Serbian government is inviting Chinese companies to invest in various infrastructure projects totaling €1 billion.

The Serbian delegation also comprises Minister of Foreign Affairs Vuk Jeremic, who met with his Chinese counterpart Yang Jiechi.