Strategy benefits all with 'endless potential'

The Belt and Road Initiative has "endless potential" to benefit all, said an expert at a Serbian research institute.

Ivona Ladjevac, deputy director at the Institute of International Politics and Economics in Belgrade, said the BRI is producing results in Serbia.

However, Ladjevac expressed concern that changing international relations have negatively impacted some participating countries in the BRI in their implementation of the initiative.

She said she felt sad that Serbia, which has an independent foreign policy by maintaining close ties with China and Russia, has also felt pressure from Brussels. Since March 2019, the European Union has described China as a cooperation partner, economic competitor and systemic rival. "It is sad that certain countries cannot or won't realize that the BRI is an extraordinary well of opportunities for mutual cooperation of all countries," she said.

She said it is important to attract Chinese investment to Serbia's agriculture, tourism and IT sectors, citing China's support for the construction of a science and technology park in Serbia. Ladjevac hopes Serbia will also attract more investment from China's private sector.

In 2009, China and Serbia signed the Agreement on Economic and Technical Cooperation. Also the same year the two countries signed their strategic partnership agreement. Ladjevac said the agreement provided the impetus to expanding economic relations and an excellent base for capital infrastructure projects that followed.

Many countries in central and eastern Europe, through cooperation with China, have secured funding for better connectivity.

Through her trips to China and interaction with Chinese people in Serbia, Ladjevac was impressed by the Chinese people who she described as "hardworking" and "dedicated" people who "love their country very much".

Ladjevac said the Belgrade-Budapest Railway being built is of great significance not only for the two countries, but also of great regional and even international significance as it connects Belgrade and Budapest and provides a link to North Macedonia and Greece, connecting the Greek port of Piraeus with Central Europe and at the same time connecting the Middle East with Europe.

She also said the E-763 highway being built between Serbia and Montenegro is of significance. "In a wider context, it connects Romania, Serbia, Montenegro and Italy and thus contributes to better regional connectivity."