China, CEE countries outline blueprint for further economic cooperation

China and Central and Eastern European (CEE) countries agreed on Tuesday to expand trade, investment and economic cooperation, according to a guideline document issued after the third leaders' meeting between China and 16 CEE countries.[Special coverage]

The Belgrade Guidelines for Cooperation between China and CEE countries said relevant parties also vowed to firmly oppose protectionism.

They all voiced their support for establishing the executive body of the China-CEEC business council in Warsaw, Poland, and invited relevant business organizations from both sides to cooperate on a voluntary basis.

The countries also welcomed the founding of the secretariat of the China-CEE investment promotion agencies contact mechanism in Beijing and Warsaw, and announced a decision to hold a bilateral ministerial meeting on promoting trade and economic cooperation biennially.

The countries voiced support for Bulgaria to lead joint efforts to set up a Chinese-CEE consortium on promoting agricultural cooperation, announcing that the consortium will be officially launched in Sofia, Bulgaria, in the first half of 2015.

Concerning financial cooperation, the guidelines called on the countries to give full play to the role of the 10-billion-U.S.-dollar special loans and other financing tools in promoting trade and economic cooperation between China and CEE countries.

The parties hailed the signing of currency swap agreements between China and Hungary, Albania, encouraging Chinese and CEE business circles to use RMB as a settlement currency in cross-border trade and investment.

The parties also commended the positive achievements made by the State I Sino-CEE Investment Cooperation Fund and Hungary's contribution in this aspect, voicing support for the launch of Stage II of the fund.

The document said all countries also stated their common will to boost cooperation in science, technology, innovation, environment protection and energy, among other fields, pledging to deepen people-to-people exchanges and cooperation at various levels.