China inks over 20 pacts with Serbia including in areas of economy, infra and energy

“The relationship between our two countries is being widened and taken to a higher level,” Xi said in comments translated into Serbian.

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China has been seeking opportunities to deepen ties to the Balkan region and also boost relations with the EU. Several meetings of southeast European countries and China have been held in the past years and accompanied by investment projects.

The Asian economic power is interested in energy, infrastructure and other big projects to fuel its economy and improve economic and other links in Europe. Xi said that Serbia holds an important position in China’s “One Belt, One Road” initiative a sweeping plan to deepen trade relations and open new markets.

“The development of our relations is based on big projects,” Xi said. “We are expecting an increase in trade and investment.”

Xi also said China supports Serbia’s bid to join the European Union. Belgrade has sought to move closer to the bloc after years of isolation during the 1990s’ conflict, but has also maintained close ties with Russia and China.

Serbia’s President Nikolic said “Serbia is ready to become China’s most important partner, and not only in the region.”

“I am convinced that Serbia’s future will look completely different from today,” said Nikolic, who awarded Xi with a Serbian state medal.

So far, China has built a bridge over the Danube in Belgrade, moved to revitalise a power plant and agreed to help modernise the railway connecting Hungary’s capital, Budapest, with Belgrade. The agreements today envisaged further work on a highway near Belgrade.

In April, China’s Hebei Iron and Steel Group signed a 46 million-euro (USD 52 million) agreement to buy the loss-making Zelezara Smederevo near Belgrade that was previously owned by Pittsburgh-based US Steel and which has long struggled to find a buyer.

From Serbia, Xi will travel to Poland, where he will ink deals on finance, aviation, science and education. Xi will wrap up the tour in Uzbekistan, where he will attend a Shanghai Cooperation Organisation summit focusing on the fight against terrorism and crime.