China and Serbia sign a Memorandum of Understanding

The Serbian Trade Minister, Tomislav Momirović and the Chinese Commerce Minister,  Wang Wentao, have signed the Memorandum of Understanding, marking the formal beginning of the negotiations on free trade between Serbia and China.

Momirović, who is on an official visit to Beijing, pointed out that the economic relations between the two countries were at an extremely high level and that Serbia was an important strategic partner of China in the Western Balkans.

“This is another big step in further boosting our economy,” the minister said and added that, only ten years ago, the Serbian exports to China had amounted to USD 6 million and that, in 2022, they stood at USD 1.3 billion.

He pointed out that one of the main tasks in the coming period was to start implementing a free trade agreement, whereby Serbian companies would get new opportunities in the Chinese market, while, on the other hand, Chinese companies would achieve even greater success in Serbia.

The minister went on to say that, in 2024, once the implementation of the free trade agreement starts, Serbian export to China is expected to exceed USD 2 billion.

(eKapija, 13.04.2023)

This post is also available in: Italiano

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