The Customs Union of Belarus, Kazakhstan and Russia was found on January 1, 2010, and was later renamed the Eurasian Customs Union. The four freedoms of movement, modeled on the European Union (goods, capital, services, and people), were fully implemented on 25 th of January 2012, with the establishment of the Eurasian Economic Area.
Published in Chapter:
“Belt and Road” Initiative as a Development Chance for the Western Balkan Countries: The Case of Serbia
Darko Marjanović (Institute of Economic Sciences, Serbia),
Isidora Beraha (Institute of Economic Sciences, Serbia), and Ivana Domazet (Institute of Economic Sciences, Serbia)
Copyright: © 2022
|Pages: 22
DOI: 10.4018/978-1-7998-8021-9.ch008
Abstract
Foreign direct investment (FDI) is a very important element of economic integration because it creates an opportunity for accelerated development, technological innovation, and corporate restructuring. Western Balkan countries mainly focused their activities on attracting investments from EU countries. However, as investments from these countries have been reduced recently, the countries of the Western Balkans have opened their markets to incoming Chinese investments. Serbia is currently the first country in the Western Balkans. Based on the inflow of Chinese investments, and in the coming period, we can expect a trend of intensive growth of Chinese investments related to the “Belt and Road” Initiative, which will lead to additional development of the Serbian economy. The main subject of this research focuses on the distribution of Chinese investments on a global scale, as well as the importance of the “Belt and Road” Initiative for both multinational companies and recipient countries of Western Balkans, with special reference to Serbia.