International trade between China and Czech Republic
China and the Czech Republic have very close trade relations, which are reflected in the growing trade volume and a wide range of cooperation areas. The following is a detailed overview of China-Czech trade relations:
1. Steady growth in trade volume
According to public data, the bilateral trade volume between China and the Czech Republic has continued to grow in recent years. For example, in 2023, the bilateral trade volume between China and the Czech Republic reached US$21.51 billion, showing the strong momentum of the trade relations between the two countries. In addition, the bilateral import and export volume of goods between China and the Czech Republic from January to November 2024 was US$21.047 billion, an increase of 8.7% year-on-year, of which the total value of China's exports to the Czech Republic was US$15.807 billion, an increase of 7.8% year-on-year; the total value of China's imports from the Czech Republic was US$5.239 billion, an increase of 11.2% year-on-year. These data show the complementarity and cooperation potential between the two countries in the field of trade.
2. Extensive areas of cooperation
The trade cooperation between China and the Czech Republic covers many fields. The Czech Republic is one of China's important trading partners in Central and Eastern Europe. The two sides have extensive cooperation in traditional manufacturing fields such as machinery, chemicals, and home appliances, as well as emerging fields such as information technology, new energy, and e-commerce. In addition, Czech beer, crystal and other products are also very popular in the Chinese market.
3. Significant achievements in the joint construction of the Belt and Road
Since China proposed the Belt and Road Initiative in 2013, the Czech Republic has actively participated in it and carried out a number of cooperation projects with China under this framework. These cooperations have not only promoted the growth of bilateral trade, but also strengthened the connection between the two countries in areas such as infrastructure and capacity cooperation. For example, projects such as the Hungary-Serbia Railway and the China-Europe Express jointly promoted by China and the Czech Republic have injected new impetus into regional connectivity and economic development.
4. Increasing two-way investment
With the deepening of trade exchanges, the two-way investment between China and the Czech Republic is also increasing. China's investment in the Czech Republic involves many fields, including automobile manufacturing, machinery manufacturing, and new energy. At the same time, Czech companies are also looking for business opportunities in the Chinese market and increasing their investment in China. These two-way investment activities have not only promoted the common development of the economies of the two countries, but also deepened the economic ties and mutual trust between the two countries.
5. Logistics service providers and facilities
With the continuous increase in trade exchanges between China and the Czech Republic, more and more logistics service providers from China to the Czech Republic have begun to enter this market to provide professional logistics services. These service providers include international logistics companies, freight forwarders, customs clearance companies, etc. They provide customers with full logistics services from the place of shipment to the destination, including customs declaration, customs clearance, warehousing, delivery and other links. In addition, both sides are constantly improving logistics facilities, such as ports, airports, warehouses, etc., to improve logistics efficiency and service quality.
6. Future Outlook
Looking to the future, China and the Czech Republic will continue to deepen trade cooperation and promote the development of bilateral trade relations to a higher level. The two sides will further strengthen cooperation in the fields of trade facilitation, investment protection, intellectual property protection, etc., and provide a more fair, transparent and predictable business environment for enterprises of both countries. At the same time, the two sides will also actively explore new areas and models of cooperation to promote the more comprehensive and in-depth development of the economic and trade relations between the two countries.
In summary, the trade between China and the Czech Republic has shown the characteristics of steady growth, wide fields and remarkable results. In the future, with the continuous deepening and expansion of cooperation between the two sides, the economic and trade relations between the two countries will usher in a broader development prospect.
