A forum on relations between China and Central and Eastern European countries was held on Thursday in Beijing. Ambassadors, scholars, media members and experts from China and the CEE countries discussed the opportunities and challenges facing China-CEE cooperation and the impact of these relations on the region and the world.

CEE refers to 16 countries in central and southeastern Europe and the Baltic states: Poland, the Czech Republic, Slovakia, Hungary, Slovenia, Croatia, Romania, Bulgaria, Serbia, Montenegro, Macedonia, Bosnia and Herzegovina, Albania, Estonia, Lithuania, and Latvia. All of them were former Warsaw Treaty Organization members.

Addressing the forum, Ren Hongbin, vice president of the Chinese Academy of International Trade and Economic Cooperation, listed many great achievements in trade and economic cooperation between China and the CEE countries. In 2013, China's trade with the CEE countries reached US$55 billion, up 5.9 percent over the previous year and 6.3 times greater than the trade volume in 2003. In the first seven months of this year, total trade increased 10.6 percent over the same time last year. Imports to China from the 16 countries also went up by 19 percent year on year.

Bilateral investment in fields such as finance, legal consultancy, real estate, manufacturing, agriculture and infrastructure has reached a total of US$3 billion. Both sides also signed a series of agreements on investment protection, which has provided solid institutional and legal guarantees for economic cooperation and trade in future.

However, Ren pointed out that the China-CEE trade volume in 2013 is only 1.3% of China's foreign trade and 9.8% of China-EU trade volume. To increase the bilateral trade volume, he called for earlier settlements to address the trade frictions between China and the EU, which have affected the trade balance between China and the CEE countries. Ren also called for a deeper understanding between the two regions in order to seek win-win solutions.

According to Hungarian Ambassador Cecilia Szilas, China-CEE cooperation can play a constructive and positive role not only in strengthening the strategic partnership between the European Union and China, but also in the successful overcoming of present difficulties in Europe.

Since the breakout of the global financial crisis, western European countries adjusted their economic policies toward the new approach of "opening up to the east" in order to take advantage of the opportunities offered by trade with China. The Eurozone's acceptance of Chinese investment has helped to stabilize the financial system, inspiring Hungary to conclude a currency SWAP agreement with China in September 2013.

The EU-China strategic partnership provides a favourable framework and impetus for China-CEE cooperation, and the "EU-China 2020 Strategic Agenda for Cooperation" exactly marks the boundaries for CEE countries to form relations with China in the most effective way, Szilas said. Although CEE region is not homogenous, Ambassador Szilas expressed her confidence that the CEE countries can produce a coherent regional approach to China-CEE cooperation based on their shared history and a common desire for development.

China held the first economic and trade forum with CEE countries in Budapest, the capital of Hungary, in 2011. In April 2012, Chinese Prime Minister Wen Jiabao put forward 12 measures for pragmatic cooperation between China and the CEE countries under the framework of the China‐CEE Economic and Trade Forum during his visit to Poland. In September 2012, the China-CEE Cooperation Secretariat was established in China's Ministry of Foreign Affairs, and its first national coordinators' meeting was held. In Bucharest, Romania, in November 2013, Premier Li Keqiang and 16 of his CEE counterparts forged guidelines for the expansion of their cooperation in political, trade, investment, finance, science and cultural exchanges.

"Premier Li's visit to Bucharest and participation in the China-CEE summit was an extremely important moment for the strengthening of our bilateral relationship." Said Romanian Ambassador Doru Romulus Costea. Romania's exports to China were up by 34% over the previous year in 2013. China's investment in Romania has also seen significant steps forward. A non-binding bid was submitted by China General Nuclear Power Holding Corporation for a US$7.7 billion construction project of two nuclear reactors in Romania. Another contract for upgrading a coal-based electric plant – a project worth over US$300 million – was signed with a Chinese company during the visit of the Romania Prime Minister at the beginning of this month.

"Any achievement in bilateral cooperation between Romania and China is an asset to the 16+1 cooperation and to the implementation of the 'EU-China 2020 strategic Agenda for Cooperation,'" Costea said. "Romania is determined to play an active part in the full development of these partnerships," he added.

Ambassadors from Poland, the Czech Republic, Croatia, Slovakia, Slovenia and Bosnia and Herzegovina also attended the forum and delivered speeches. The forum was organized by the Institute of European Studies at the Chinese Academy of Social Sciences.

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