Ningbo unveils commodity exhibition, trade center in Belgrade

Ningbo inaugurates a commodity exhibition and trade center in Belgrade, the capital city of Serbia, on May 19. [Photo/cnnb.com.cn]

Ningbo inaugurated a commodity exhibition and trade center in Belgrade, the capital city of Serbia, on May 19, in a bid to strengthen its trade relations with the Central and Eastern European nation.

Situated within the Eurasia Trade Center, the largest Chinese shopping hub in the Balkans, the 3,000-square-meter facility comprises a dedicated offline exhibition area and a state-of-the-art livestreaming room.

The establishment marks Ningbo's first economic and trade promotion platform in Central and Eastern Europe, representing a strategic move by the local government to explore international commercial livestreaming markets in partnership with private enterprises, as stated by Fei Jianming, director of the trade promotion department at the Ningbo Municipal Bureau of Commerce.

Fei added that the center provides attractive incentives for businesses seeking to establish a presence, with the aim of enhancing the commercial landscape for Ningbo enterprises operating in Serbia.

Han Jun, deputy director of the Ningbo Municipal Bureau of Commerce, outlined future plans to capitalize on the upcoming China - Serbia Free Trade Agreement, scheduled to come into effect on July 1, to facilitate collaborations with Serbian exporters, increase the importation of high-quality Serbian products such as beef and wine, diversify import categories, and sustain the growth of bilateral trade volumes.

As of March, Ningbo's cumulative investments in Central and Eastern European countries have surpassed $1 billion, including approximately $500 million in direct Chinese investments, with Serbia emerging as a key investment destination in the region.