Electric vehicles will play a key role in China's strategy in the Balkans.
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NewsTranscript
00:00 (Applause)
00:04 Beijing and Belgrade have announced the implementation of their free trade agreement.
00:09 Chinese President Xi Jinping sealed the deal during his first trip to Europe in five years.
00:15 The partnership further strengthens ties between China and its long-time European ally, Serbia.
00:21 "The agreement with the People's Republic of China guarantees the future of our country, the Republic of Serbia. It guarantees the placement of our goods and services.
00:32 In ten years, we will be able to export almost 95% of the products we make in our country to the People's Republic of China without any tariffs."
00:46 "The bilateral political cooperation is like a rock. The cooperation between the two countries is not only about upgrading, but also about the coordination of the two countries.
01:00 Serbia is an EU candidate member. Its move is seen as a slap in the face to Brussels, as the bloc considers raising tariffs on China's electric vehicles to protect its own market.
01:12 The electric cars are going to be at the heart of China's expansion strategy in Serbia, but the bonds between these two countries stretch way beyond that.
01:20 "Now, between China and Serbia, as I mentioned, we share many things together. We see the world very much in similar lenses, and we fully understand the need of respecting each other, helping each other whenever it is necessary.
01:38 You do not treat China as an equal. If you really want to badmouth China, to disrespect China, and to violate the One China policy, then you do not get all these economic benefits, and you erode the foundation upon China-European countries' cooperation."
01:57 Xi Jinping is heading to Hungary next to wrap his European tour. Hungary is another European country that's been trying to attract major investments from China, particularly in infrastructure, manufacturing, energy and technology.
02:14 (whooshing)
02:16 (whooshing)