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What is the purpose of the Chinese President's visit to Serbia?

2024-05-06 17:39:10, Kosova & Bota CNA

Chinese President Xi Jinping will visit Serbia this week, as part of his first trip to Europe in 5 years. Belgrade is one of the big beneficiaries of Chinese investment, including receiving financial support for a railway line connecting it to Budapest. However, the economic expert Mijat Lakiçevich says that he does not expect important economic agreements from this visit. According to him, with this move, Beijing aims to give a signal to the West that it has a stable partner in Europe.

On the streets and buildings of Belgrade, the flags of China and Serbia have been placed a few days before the visit of President Xi Jinping.

President Alexander Vucic has expressed that he feels honored by the visit of the Chinese leader.

During the last few years, Chinese investments worth billions of dollars have flooded into Serbia. China has bought mines and factories all over Serbia.

Through billions of dollars in infrastructure loans, roads, bridges and new facilities have been financed.

This month, works worth 1.16 billion dollars for a length of 108 kilometers of the railway connecting Serbia with Hungary were completed.

The economic analyst from the "Novi" magazine, Mijat Lakiçevic, says that he does not expect agreements for large investments during the visit of the Chinese leader. "I do not expect large projects. It seems to me that this visit will have more political significance. It aims to show Europe and beyond that China has a reliable partner in Europe. For China, this is important, even though Serbia is a small country, because for China we present, so to speak, a kind of perspective, for its influence in Europe, which China is most concerned about. Serbia, unlike other European countries, has no reserves. It's simple, you can reach an agreement on everything here", says the economic analyst from "Novi" magazine, Mijat Lakiçevi?.

China has bought Serbia's main steel processing plant, located in the town of Smederevo, and the copper plant in Bor, as well as building a series of road accesses across Serbia.

Beijing has faced criticism in Serbia regarding the announcements of the increase in the level of pollution in the areas where there are factories and plants under its administration. "Regarding the Smederovo steel plant, I believe it was a good move because it was almost being destroyed, there was no interest in it, and the Chinese seemed like saviors. The situation is seen differently as far as the environment is concerned, but in countries like Serbia, somehow the economy comes first and then the environmental issues", says Mr. Laki?evi?

A Chinese rubber factory in the northern city of Zrenjanin came under heavy criticism that workers from Vietnam face harsh working conditions, akin to slavery. "The problem of the Serbian state is that it does not take a firm stance towards China when it comes to protecting the interests of the local community or showing care for the environment," Mr. Laki?evi? emphasizes.

According to the expert Laki?evic, by offering unconditional investments and making direct agreements, China helps autocrats like Mr. Vu?i? to stabilize the economy and thus maintain power./ VOA