Beijing urges deeper cooperation with CEE

Beijing on Thursday urged the early implementation of recent agreements between the leaders of China and Central and Eastern Europe, saying that such cooperation could act as an engine for economic growth in Europe as a whole.

State Councilor Yang Jiechi made the remarks in Beijing during the opening ceremony of the High-Level Symposium of Think Tanks of China and Central and Eastern European Countries.

The meeting was the step in implementing agreements reached by Premier Li Keqiang and the leaders of 16 CEE countries during a meeting in Bucharest, Romania, in November, said Liu Chuchang, chairman of the China Foundation for International Studies.

During the leaders' meeting, Li proposed the deepening of China-CEE cooperation in six fields, including the economy and trade, nuclear energy, finance and cultural exchanges. Both sides also vowed to double their trade over a period of five years and discuss plans to build a new railway link connecting the nations.

Diplomats and researchers said the economies of China and the CEE nations are highly complementary but more efforts are needed to fully tap the potential. CEE countries are still in the shadow of the global financial crisis, while Beijing is advocating an "economic belt along the Silk Road" — a trans-Eurasian project spanning from the Pacific Ocean to the Baltic Sea.

In the first 10 months of this year, trade between China and CEE countries reached $52.1 billion. The figure topped the $50 billion recorded in 2012, but only accounted for 10 percent of trade between China and the European Union.

Vice-Foreign Minister Zhang Ming said the two sides are increasing their shared interests and are maintaining the momentum of cooperation efforts. China views the CEE nations as important partners as it accelerates its openness to the West. At the same time, CEE countries are seeking opportunities in the Asia-Pacific region, the world's economic powerhouse, he said.

Vuk Jeremic, chairman of the 67th General Assembly of the United Nations, said economic growth within Europe is not able to create sustainable growth within the CEE region, and it needs investment from China to upgrade its infrastructure

The most important decision that any leaders in the region can make at this moment is to strengthen economic and trade ties between nations, Jeremic said.