Serbia should enhance its capacity to realize industrial upgrading through more specific cooperation with China, one of its most important economic partners

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This year, the world marked the 80th anniversary of the United Nations in an unsatisfactory manner — unfortunately, in accordance with the current state of global multilateralism. This reconfirms that the world is at a critical juncture. Global tensions, uneven development and increasing environmental pressures remind us that humanity's challenges cannot be solved through isolated efforts.

Yet, even under these circumstances, there is reason for optimism. At the Shanghai Cooperation Organization Tianjin Summit on Aug 31 and Sept 1, Chinese President Xi Jinping proposed the Global Governance Initiative, which is based on the concept of sovereign equality, international rule of law, multilateralism, a people-centered approach and real results.

Serbia unreservedly supports this initiative — as do many other states — to build a community with a shared future for humanity.

Serbia's experience with China provides a significant example of how cooperation based on mutual trust and long-term vision can yield results that resonate far beyond national borders. Although Serbia is located in the heart of Europe, the evolution of the "ironclad friendship" between the two countries reflects the aspirations of many developing nations seeking a development path that is just, inclusive and grounded in sovereignty. As a Chinese proverb goes: "A journey of a thousand miles begins with a single step." For Serbia and China, many of those steps have already been taken together — guided by a shared vision of the future.

The past decade has brought unprecedented depth to relations between the two countries. What began as political goodwill has matured into a comprehensive partnership encompassing infrastructure, energy, manufacturing, technology and cultural exchange.The China-Serbia Free Trade Agreement, which entered into force on July 1, 2024, marked a new chapter in bilateral relations by opening broader channels for trade and industrial growth. Both parties have agreed to gradually eliminate tariffs on 90 percent of tariff lines.

China has become one of Serbia's most important economic partners and the leading source of foreign direct investment in the Western Balkans. According to Chinese customs statistics, the trade volume between China and Serbia in 2024 reached $5.73 billion, marking a 31.8 percent increase compared to the previous year. What makes this cooperation significant is its character: it is not extractive, short-term or driven by political conditioning.Instead, it reflects a principle emphasized in China's global initiatives: development must be mutually beneficial and aligned with each country's national priorities.

As a Chinese proverb goes, "When people have a common goal, they can overcome even the strongest obstacles." In this way, Serbia and China, although geographically distant, share a commitment to development and stability. This alignment has provided fertile ground for cooperation that is both practical and forward-looking.

There is no doubt that infrastructure is the backbone of any modern economy. It is in this domain that Serbia and China have achieved particularly transformative cooperation. Highway sections, energy facilities and logistics hubs have gained new momentum through joint projects.

Among the most important projects are the Belgrade-Budapest high-speed railway, which enhances regional connectivity and positions Serbia as a transport hub; the Pupin Bridge over the Danube River — widely known as the "Chinese Bridge", a symbol of friendship and a practical solution to Belgrade's traffic challenges; and modernized motorways and energy facilities, which strengthen Serbia's long-term competitiveness.

For Serbia, these projects are more than infrastructure; they are catalysts for economic renewal. For China, they embody the long-standing development philosophy underpinning every five-year plan: modernization begins by improving the foundations on which all other progress depends.

For this reason, China's five-year plans are significant not only for their domestic development but also because they provide valuable lessons and development opportunities for other countries, including Serbia.

The 15th Five-Year Plan (2026-30), when finalized, will promote China's modernization in a gradual, step-by-step manner. The Recommendations of the 20th Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan for National Economic and Social Development effectively respond to changes in a complex and challenging external environment, enable China to play a strategic part in the intense international competition, align with the current stage of China's development and advance high-quality development.

The Chinese economy benefits from a stable foundation, numerous advantages, strong resilience and significant potential. The conditions and fundamental trends supporting long-term growth are expected to remain unchanged.

China will promote reform and development through further opening-up. It will continue to serve as a major contributor to and an anchor of global economic growth, share development opportunities with countries around the world, including Serbia, and jointly build a high-quality Belt and Road Initiative.

China's past achievements and the successful implementation of its five-year plans have had a positive impact on Serbia.

Serbia's industrial sector, particularly in steel, copper and mining, has been reinvigorated through Chinese investment. The transformation of the HBIS steel mill in Smederevo and modernization of the Serbia Zijin Copper Doo Bor, formerly known as the RTB Bor Copper Mine, exemplify how China's investment can support not only economic output but also long-term industrial stability. Both of these projects have introduced new technologies, and strengthened local development in surrounding regions.

In the next five years, Serbia should further enhance its own capacity to realize its industrial upgrading through more specific cooperation with China where Serbian people will acquire not only tools for the livelihood, but also skills empowerment for life-long development. As the Chinese saying goes: "Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime."

This reflects a model of win-win cooperation rarely seen from Western economies today: adding value locally and achieving mutual benefit.

The author is a senior research fellow and the deputy director of the Institute of International Politics and Economics, Belgrade, Serbia.The author contributed this article to China Watch, a think tank powered by China Daily.

The views do not necessarily reflect those of China Daily.

Contact the editor at editor@chinawatch.cn.