China becomes major investor in Serbia under New Silk Road plans

According to the Deputy Director of the Strategic Analysis Sector of the Serbian Chamber of Commerce, Bojan Stanić, China has become the number one investor in Serbia due to its ambitions under the One Belt, One Road program. It is reported by Railway Supply magazine with reference to RailFreight.

“China’s New Silk Road project is global in scope and the country is building infrastructure to support it. Since Serbia is not a member of the EU, and we have free trade agreements with the EU and Russia and a strategic partnership with China, they have started investing in the cities of Bor, Smederevo and Zrenjanin,” he said.

Engineering disaster in Istanbul airport metro

Indeed, China has a particular interest in the development of railways in Serbia. One example is the Belgrade-Budapest line, a railway line connecting Serbia and Hungary. Once completed, westbound cargo can enter Europe via Adriatic ports, with Serbia being an important transit country. This will provide an alternative supply route from China to Europe.

In August, Serbian Interior Minister Aleksandar Vulin, in a letter to Chinese Interior Minister Wang Xiaohong, said that the two countries have strong friendly relations. He noted that the railway plays an important role in this friendship.

Railway news you might have missed:

Container wagon handling robot under development