(MENAFN- Gulf Times) Chinese Prime Minister Li Keqiang yesterday met leaders from 16 eastern and central European countries for discussions on economy and trade as part of its drive into the European market.
The event focussed on infrastructure projects of Beijing's 'New Silk Road, a massive plan to improve land and sea infrastructure for easier trade routes between China and Europe.
'Co-operation between countries of central and eastern Europe is based on mutual benefit. It is based on rationality, because it is in harmony with trends of globalisation, Li said ahead of the conference. China formed the '16+1 group five years ago and unveiled the initiative to revive the ancient silk trade route in 2013. The plan is to develop road, railroad and sea connections between China and Europe, with eastern and central European countries as the gateway. However some regional projects announced under the scheme, such as the Belgrade-Budapest railway reconstruction, have been halted after coming under EU scrutiny because of a lack of transparency. Beijing's push has caused concern within the EU over other issues, as well.
A Western diplomat in Beijing told DPA on condition of anonymity that smaller European countries have limited power to counterbalance against the world's second-largest economy.
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