China-Serbia Ties: What's behind the growth of Serbian exports to China?

 

 

 

 

As trade ties between China and Serbia continue to strengthen, more Serbian companies are tapping into the Chinese market. Chen Yuan travels to Ningbo, a coastal city in east China's Zhejiang province, to explore the driving forces behind this significant growth. 

Fragrant truffles, tangy vinegar and aromatic coffee beans.

CHEN YUAN, Ningbo "Everything that you see here share a common origin: Serbia. In recent years, more Serbian flavors have been finding their way into Chinese homes."

In the past decade, Serbian exports to China increased as much as 185 times. Serbian entrepreneur Nebojsa Terzic and his Chinese business partner Guo Xiao have been introducing Serbian goods to China since 2017. For them, the growth was palpable.

NEBOJSA TERZIC, COO, Ningbo Xiangmiao Technology Co., Ltd "At that time, we were only selling one product from Serbia. Now we have about 450 different products, wine, coffee, cookies. In that moment, nobody don't believe that in Serbia. "Where? China? Oh, China's so far away, it's not possible" and something like that. But after first step, many companies call me, "hey, maybe I have chance, maybe I have chance."

The success of their business stems in part from the support of authorities in Ningbo.

CHEN YUAN, Ningbo "With the first demonstration zone for trade and economic cooperation between China and Central and Eastern European countries, the port city of Ningbo has been creating smoother pathways for Serbian products to enter the Chinese market. This includes hosting expos, facilitating e-commerce, and streamlining the customs clearance process."

SHU SHENGHUI, Deputy Director, CEE Information Cooperation Division, Ningbo Customs "Ningbo Customs has proactively undertaken customs risk assessment of Serbia's frozen fruit, pet food, and bee products and facilitated their market access. In the first quarter of 2024, Ningbo's imports from Serbia surpassed 71 million yuan, almost three times the figure for the same quarter last year."

Ningbo's efforts to build a better business environment align with China's national strategies. Last October, China and Serbia signed a free trade agreement that includes well over 10-thousand Serbian products and almost nine-thousand Chinese products. Tariff-free Serbian goods include generators, electric motors, beef, nuts, and wine. For companies like Guo's, this is great news.

GUO XIAO, CEO, Ningbo Xiangmiao Technology Co., Ltd "I think this is a huge opportunity. Currently, the tariffs on some Serbian wines are as high as 46%. When the tariffs are lifted, this will make high-quality Serbian goods even more competitive in the Chinese market. In the future, we expect to further increase the quantity and types of our imported products."

China and Serbia boast an ironclad friendship, a spirit that resonates in people-to-people ties.

GUO XIAO, CEO, Ningbo Xiangmiao Technology Co., Ltd "First as friends and then as business partners, we've known each other for almost 20 years. Because we trust each other and share the same goal, we believe that this partnership will go far."

With shared development goals, the horizon of trade between Serbia and China is ever-expanding, promising a future rich in mutual prosperity. Chen Yuan, CGTN, Ningbo.