Prime Minister Sobotka Pursues Further Development Of Czech-Chinese Trade and Tourism Relations At The 16+1 Summit In Riga

Prime Minister Bohuslav Sobotka has continued to pursue the development of relations with the People’s Republic of China while attending the Summit of 16 prime ministers from Central and Easter Europe and China being held in Riga, Latvia. During its term in office, the coalition government of ČSSD, ANO and KDU-ČSL has managed significantly to improve relations through intensive work. The highlight of these efforts is the establishment of a strategic partnership between both countries, which was conclude this March on the occasion of Chinese President Xi Jinping’s visit to Prague.

Intensive cooperation with the People’s Republic of China and the thawing of mutual relations has had concrete positive results of the Czech Republic.

Growth of investment

This refers primarily to the continued increase in the number of Chinese investments in the Czech Republic. In 2013, the volume of Chinese investments in CZ was about CZK 400 mn, while last year investments totalled CZK 1.1 bn, helping to create 702 new jobs.

This year has seen further substantial growth. To date, the CzechInvest agency has mediated six projects worth almost CZK 3.5 bn in total, and is currently dealing with other Chinese investors about potential investments worth about CZK 20 bn.

Strengthening of Czech exports

In the past three years, Czech exports to China have also strengthened considerably. While in 2013 exports amounted to CZK 37.6 bn, in 2015 they reached CZK 45.6 bn, a growth of more than 20%.

Three direct flights and more Chinese tourists

In addition to investments and trade, cooperation is also evolving in other areas. Since September 2015, the Czech Republic has managed to open three direct flights from China to Prague, specifically from Peking, Shanghai and Chengdu. The only other country in Central and Easter Europe with direct flights to China is Poland.

The opening of three direct flights is related not only to more intensive trade, but also to the substantial increase in Chinese tourists in the Czech Republic. While 152,000 of them came to the Czech Republic in 2012, last year it was almost 300,000 and this year more some 400,000 Chinese tourists should visit the Czech Republic.

The aim of the Czech government is to pursue intensive cooperation in the further development of Czech-Chinese relations and fulfil the strategic partnership between both countries, in particular as concerns transport links, the financial sector, healthcare, industry, science and research, and tourism.