Enhanced Economic and Technical Cooperation between Serbia and China: Infrastructure Protocol Ratified

Our law office is pleased to provide an overview of the recently ratified Protocol for the Enhancement of the Agreement on Economic and Technical Cooperation in Infrastructure between the Government of the Republic of Serbia and the Government of the People’s Republic of China. This development marks a significant milestone in the long-standing bilateral cooperation between these two nations, particularly in the infrastructure sector.

Signed in Belgrade on May 8, 2024, the Protocol aims to advance the existing Agreement on Economic and Technical Cooperation in Infrastructure, originally concluded on August 20, 2009, in Beijing. The updated Protocol introduces several important changes to the collaboration framework, highlighting both countries’ commitment to furthering infrastructure development, while promoting sustainable and eco-friendly initiatives.

The updated Protocol broadens the scope of cooperation between Serbia and China, focusing on key areas of infrastructure development. This includes modernizing existing systems and constructing new projects, with a particular emphasis on transportation. The Protocol highlights the importance of expert technical support and professional training, ensuring the effective execution of development plans. It also promotes the exchange of best practices, especially in communication technologies and signaling systems, enhancing the efficiency of future projects.

Sustainability is a key focus, with the Protocol encouraging green, low-carbon infrastructure development and advancing digital infrastructure initiatives. In addition to these practical improvements, the Protocol provides significant financial relief by offering exemptions from VAT and customs duties for goods and services tied to these infrastructure projects. These measures are aimed at streamlining project execution and reducing financial burdens on contractors.

This Protocol builds upon more than a decade of successful infrastructure cooperation between Serbia and China. Previous projects, including the construction of the Zemun-Borča Bridge and other significant infrastructure undertakings, have already demonstrated the value of this partnership. By enhancing these agreements, Serbia is poised to further benefit from China’s expertise, especially in the realms of transportation infrastructure and sustainable energy, and also align with global trends toward sustainability and digital transformation.

For more information on how this Protocol might impact your business or for specific legal advice regarding infrastructure projects in Serbia, please don’t hesitate to contact our team of experienced attorneys.