The Chinese Innovation Park Suzhou is exploring the establishment of a business centre in Serbia to support Chinese companies expanding into new markets, the Serbian Chamber of Commerce (PKS) announced on November 28.

The initiative reflects the growing economic ties between Serbia and China, following a Free Trade Agreement (FTA) that came into effect in July.

The initiative was discussed in Beijing during a meeting between Marko Cadez, president of the Serbian Chamber of Commerce (PKS), and Gina Zhang, head of department at Suzhou’s investment promotion committee.

"This marks a significant step toward connecting our innovation ecosystems," said Cadez. "We are also interested in organising a showroom... to showcase Serbian products and companies."

Suzhou, located 100 kilometres west of Shanghai in Jiangsu province, is a model of industrial and economic development. Known for its advanced infrastructure and focus on technology, the city houses 12 innovation centres globally and reported a GDP of $50bn last year. 

A PKS delegation is scheduled to visit Suzhou in late February to prepare for a business forum focused on innovation. The event will coincide with an April visit to Serbia by Suzhou's president, furthering collaboration.

The PKS delegation also met with Zhou Xiongwe, executive vice president of China Electronics Technology Group Corporation (CETC), during the final day of their China visit.

CETC, a Fortune 500 state-owned conglomerate, is a leader in electronics and information systems, specialising in artificial intelligence, radar systems, smart cities and cybersecurity. Established in 2002, CETC has played a critical role in China's technological advancement and innovation strategy.

“This cooperation not only boosts economic ties but also enables knowledge exchange in cutting-edge technologies, benefiting both Serbia and China,” Cadez said.

The proposed centre and increased collaboration with Suzhou and CETC underscore Serbia's growing importance as a strategic partner for China in the Western Balkans.