'16+1 Cooperation' charts promising course for China-Europe ties

The Pallas Athéné Geopolitical Institute, the most influential geopolitical think tank in Central and Eastern Europe, recently published a report on China's Belt and Road Initiative, giving a positive introduction to China's overall economy and development.

The report, published in both English and Hungarian, offers a basis for economic policy-making not just for Hungary but also a wide range of European countries.

Viktor Eszterhai, program director for studying the Belt and Road Initiative, said China's rapidly growing economy has given the country increased international influence.

He said that the world is going towards multi-polarization and different cultures and civilizations play an important part in international politics. Various international parties should accept the fact and adopt a new mindset for their relations with China.

He believes the Belt and Road Initiative can address the lack of infrastructure in the eastern and southern parts of Central and Eastern Europe. The European Infrastructure Network established under the Belt and Road framework will provide a much-needed boost to the local and regional economy. Central and Eastern Europe will benefit immensely from the opening of the China-Europe Land-Sea Express Route linking the Piraeus port in Greece and Hungary and the Budapest-Belgrade rail link . The infrastructure connectivity will greatly boost the trade flow from Central and Eastern Europe to the Middle East, Central Asia and Russian markets and serve as a bridge between China and the European Union.

The senior researcher also sees ample room for cooperation, particularly in areas of pharmacy, agriculture and food processing, such as brewery, quality honey products, spices and herbal medicines. Meanwhile, the Central and Eastern Europe's strengths in beef products, mineral water, dairy products, the pharmaceutical industry and specialist machinery manufacturing provide further room for high-end cooperation.

He said the region welcomes Chinese investment in tourism, as well as in education and R&D, especially in areas regarding medical studies, technician training, geo-information science and agricultural technologies. Meanwhile, Warsaw and Budapest's professional logistics and financial service centers will provide a further boost to cooperation.

Viktor Eszterhai's positive attitude towards China-Central and Eastern European cooperation and his belief that the "16+1 Cooperation" mode is one of the most significant diplomatic achievements between China and Europe are highly encouraging. The mechanism has the potential to chart the course of development for China-Europe relations in the long-term.

The "16+1 cooperation" refers to the cooperation between China and the Central and Eastern European (CEE) countries. It is a platform jointly established in 2012 by China and CEE countries to deepen traditional ties and expand cooperation.