China and East Europe Deals
The Third Belt and Road Forum witnessed the formation and strengthening of strong bilateral relationships, with particular emphasis on the collaborative efforts between China, Hungary, and Serbia. A multitude of treaties, deals, and agreements highlighted the growing cooperation between these nations, as well as China and Europe.
China and Hungary signed a range of intergovernmental agreements on bilateral projects, cooperation, and technological development. This included five cooperation agreements, a second set of priority cooperation projects, and four memorandums of understanding. These agreements reflected the strengthening of bilateral relations and commitment to fostering mutual growth and development.
China and Serbia signed a Free Trade Agreement, symbolizing their dedication to promoting trade and economic collaboration. Furthermore, the completion of the Budapest-Belgrade Railway project was underscored, marking an essential component of the broader transportation network in the region.
Additionally, the timely completion of the Budapest-Belgrade Railway project was emphasized, and a procurement contract was signed for five high-speed trains from China’s CRRC Changchun Railways Vehicles Co. to Serbia. This deal, valued at a substantial amount, marked the first instance of China's high-speed train technology being exported to Europe. The project has the potential to revolutionize transportation within the region and strengthen economic ties between China and Europe.
In summary, the Third Belt and Road Forum marked a significant step forward in strengthening bilateral relationships, with China, Hungary, and Serbia at the forefront of this trend. The deals and treaties signed during the event are poised to drive economic development and regional cooperation, further solidifying the Belt and Road Initiative's global impact.