China pledges to increase trade with CEE countries

By Ivana Sekularac

DUBROVNIK, Croatia, April 12 () - China pledged on Friday to increase trade with Central European countries and provide more financial support for major cross border infrastructure projects to promote regional cooperation.

The area is key to China's Belt and Road Initiative, which aims to link China by sea and land with Southeast and Central Asia, the Middle East, Europe and Africa, through an infrastructure network on the lines of the old Silk Road.

Chinese companies have been active in the Balkans for several years, helping build roads, bridges and other infrastructure. However, construction of the Peljesac bridge in Croatia marks the first time it has undertaken such a project within the EU, which Croatia joined in 2013.

Li arrived in the country on Wednesday, meeting with officials from 16 central European countries: 11 EU members and five Western Balkan states which aspire to join the bloc.

This year Greece, where Chinese shipping giant COSCO holds a majority stake in Piraeus Port, joined the group for the first time.

Greek Prime Minister Alexis Tsipras said it was important for the region to leave behind recent crises and conflicts and cooperate both regionally and globally.

The European countries agreed to provide a fair and just environment and a level playing field for foreign companies doing business in the region.

They also pledged to promote cooperation in infrastructure, agriculture, science, technology and education.

"China is a country which certainly can be competitive...we intend to cooperate and respect European standards," Li said.

"We all have the need to increase trade and connect our economies," he added.

Earlier this week, at a summit with EU member states in Brussels, China agreed to address the bloc's concerns over state subsidies to industrial firms.

The next summit between China and Central European countries will be held in China next year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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