Tuesday November 24, 2:27 AM
Serbian factory to build Chinese trucks: report
A Serbian factory struck a deal on Monday to assemble trucks for a Chinese manufacturer in southern Serbian, Tanjug news agency reported.
Representatives of China's DongFeng Commercial Vehicle and Serbian Fabrika Automobila Priboj (FAP) signed an agreement for the latter to assemble four models of DongFeng trucks for domestic and foreign markets, the agency quoted Serbia's Economy Minister Mladjan Dinkic as saying.
Dinkic said joint operations at the factory in the southern town of Priboj would start as early as next year, pledging up to a million euros (1.49 million dollars) in government aid to help the struggling FAP modernise its equipment.
The minister did not reveal how many vehicles would be assembled or the financial value of the deal, signed during a visit of a 70-member Chinese economy and trade delegation to Serbia.
Chinese assistant trade minister Qiu Hong, who led the delegation, said her government "considers development of cooperation with Serbia as significantly important."
"Serbia is an important Chinese partner in the Balkans region," Qiu told the economists of both countries at the beginning of official talks.
China and Serbia have stepped up political and economy cooperation since a strategic partnership was agreed between the two countries during Serb President Boris Tadic's visit to Beijing in August.
Last month Serbia signed a deal with the China Road and Bridge Corporation to build a 170-million-euro bridge over the River Danube in Belgrade.
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