New Silk Road will bolster Asia-Europe ties

The European Union faced serious economic challenges over the past few years, but the majority of the Central and Eastern European countries have now returned to their high growth patterns after the financial crisis, compared with the more developed western EU member states.

The primary focus of the CEE countries during the years of their political and economic transformation was the successful integration with the western European institutional framework. The turbulences following the financial crisis, however, encouraged regional governments to diversify their economic relations and strengthen cooperation with the global powers of the Eastern hemisphere as well.

The China-led Belt and Road Initiative, the Silk Road Economic Belt and 21st Century Maritime Silk Road, meets the strategic orientation of the governments of the CEE region. Facilitating these mutual interests, a multilateral cooperation mechanism has been set up within the "16+1" framework to strengthen economic and diplomatic ties among the participating countries.