PressTV... China aims to construct a 400-kilometer railway that connects Serbian capital Belgrade to Hungarian capital Budapest.
On the sidelines of an economic summit in Belgrade on Wednesday, Chinese Prime Minister Li Keqiang signed a deal with the premiers of Serbia and Hungary to construct a high-speed train link between the two European countries.
The railway is expected to decrease the travel time between the Serbian and Hungarian capitals from eight to less than three hours.
The railway, which is to be completed by mid-2017, will facilitate the delivery of Chinese goods to central Europe.
"This will put in place a new corridor between China and Europe and we hope to see an increased exchange of goods between China and Europe. The potential for increased exchange and investments is big and a fast railway will definitely be beneficial for our trade and the development of all countries in the region," said the Chinese premier.
The Serbian and Hungarian officials also welcomed the deal, saying it will secure huge benefits for the two countries.
"This will bring Serbia not only development of infrastructure and transport but also a new connection with our friends from Hungary, Macedonia, and Greece. It will also bring a more significant connection to Europe," said Serbian Prime Minster Aleksandar Vucic.
"Historically it was armies that were traversing Hungary, but now goods will be passing through the new railway and we will finally benefit from our position," Hungarian Prime Minster Victor Orban stated.
According to the International Monetary Fund, China’s share of the global market is 16.48 percent, making the Asian country the world’s largest economy.
FNR/AS/MHB