The Free Trade Agreement between China and Serbia, which came into effect on July 1, 2024, has delivered record results in its first year, not only strengthening bilateral cooperation but also setting a historic milestone among China’s free trade agreements worldwide, stated Ambassador Li Ming. Trade between the two countries increased by 33.8 percent in the second half of last year.
Ambassador Li Ming emphasized that the agreement represents a key success in the relationship between China and Serbia, providing a stable platform for trade and economic cooperation. He noted the strong complementarity between the two economies and highlighted an 11.8 percent growth in trade during the first five months of 2025, with particularly strong results in agriculture and the import and export of electronic machine parts.
The agreement immediately eliminated customs duties on 60 percent of products, opening numerous opportunities. It also confirmed the importance of the close friendship between Serbia and China and contributes not only to their mutual development but also benefits the region and the world. Ambassador Li stressed that Serbian products are needed in China and vice versa, underlining the agreement as a model for cooperation based on mutual trust, stability, and shared growth.
Chinese companies have made significant investments in Serbia, including major projects by Zijin, HBIS Group, and Shandong Linglong, as well as infrastructure developments such as roads, bridges, and railways. Serbia also benefits from the import of high-tech equipment and automotive parts from China, often with reduced or zero customs duties thanks to the agreement.
Ambassador Li highlighted the opening of Serbian Houses in Fujian and upcoming plans for a similar platform in Nanjing, aimed at promoting Serbian economy, culture, and products in China. These initiatives strengthen cultural ties and increase awareness of Serbia among the Chinese population.
China remains the largest foreign direct investor in Serbia, with investments totaling 1.6 billion euros last year. The agreement has facilitated the entry of Chinese electric vehicles into the Serbian market and opened new trade possibilities, such as the recent contract for Serbian pet food exports to China worth 25 million euros.
Ambassador Li emphasized the strong political trust between the two countries and the growing enthusiasm among Chinese companies for the Serbian market. He expressed optimism about increasing Chinese investments, visitors, and cooperation opportunities, pointing out Serbia’s steady economic growth and strategic position as key factors driving this positive trend.
