Economy and Finance

China, Serbia, Hungary intensify cooperation on railway deal

05:55, June 24, 2015

BELGRADE, June 23 (Xinhua) — The preparations for the construction of a Chinese high-speed railway between the capital cities of Serbia and Hungary is underway and onschedule, said the Serbian Ministry of Transport, Construction and Infrastructure.

On a three-day visit of Chinese Vice Premier Zhang Gaoli to Serbia which commencedMonday, Serbian minister Zorana Mihajlovic explained that cooperation among the threecountries on the several-billion-dollar project had intensified. Mihajlovic said they woulddiscuss the feasibility study and financing for the project of the modernization of theBelgrade-Budapest railway in mid-July.

The project for the modernization of the Belgrade-Budapest railway was initially agreed onin 2013 at the China-Central and Eastern European (CEE) countries leaders’ meeting thattook place in Bucharest, while at last year’s summit held in Belgrade, China, Hungary andSerbia signed a memorandum of understanding.

At that point, Macedonia and Greece both expressed their willingness to partake in theproject that is planned to turn Piraeus, the main port of Greece, into a Chinese hub fortrade with Europe.

The cooperation plan for the construction of the railway was signed in the beginning of thisyear in Belgrade at the meeting of the Trilateral Group of China, Hungary and Serbia forTraffic and Infrastructure Cooperation, setting dates for certain phases of the project.



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